Malaysia's central bank governor said financial institutions will be requir...
KUALA LUMPUR - Malaysia’s central bank governor said financial institutions will be required to report their exposure to climate risks and the information it gathers could be used to set regulatory standards in Southeast Asia’s third biggest economy.
“It presents a major economic issue with direct implications on financial stability,” she said at a regional conference on climate change in the Malaysian capital Kuala Lumpur. “This framework aims to support informed decisions and analysis of exposures to climate risk in fund raising, lending and investment activities,” Nor Shamsiah said.
The governor did not describe the institutions but said the financial ecosystem included banks, insurers, venture capital and private equity firms.
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