The Hong Kong Monetary Authority (HKMA) has shared best practices for managing climate-related risks among authorized institutions (AIs). Key observations include developing clear climate strategies with regular reporting, integrating climate considerations into risk management frameworks with both qualitative and quantitative metrics, and fostering a climate-conscious organizational culture through performance evaluations and transparent disclosures. The HKMA encourages AIs to adopt these practices and will continue to enhance its supervisory approach to support effective climate risk management.
Resources: https://www.hkma.gov.hk/media/eng/doc/key-information/guidelines-and-circular/2024/20240822e1.pdf
