guidance

Effective Management of Climate-related Financial Risks Guidance 20231004

Issuing bodyADGM
CountryUAE
Date issued2023
Climate RiskFinancial Risk ManagementSustainable FinanceESG

This guidance from the UAE Sustainable Finance Working Group, issued by ADGM, outlines principles for the effective management of climate-related financial risks. It aims to support the UAE's economic transition and the adoption of sustainable finance, aligning with national initiatives like the UAE Green Agenda and the Net Zero by 2050 Strategic Initiative. The guidance provides a framework for financial institutions to integrate climate considerations into their operations.

Key requirements
  • Oversight and responsibility of climate-related financial risk exposures
  • Incorporation of climate-related financial risk exposures into overall business strategy
  • Assigning climate-related financial risk management responsibilities within the organization
  • Incorporation of climate-related financial risks into risk management framework
  • Monitoring and reporting of climate-related financial risks
Applies to: Financial institutions operating within Abu Dhabi Global Market (ADGM)
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