Comment Deadline Set for FRB Draft Principles on Climate-related Risk Management
Comments on the Federal Reserve Board's draft "Principles for Climate-Related Financial Risk Management for Large Financial Institutions" are due by February 6, 2023. The notice was published in the Federal Register.
As previously covered, the draft principles would provide a framework for board-supervised financial institutions with over $100 billion in assets to manage exposures to climate-related financial risks. The framework covers such areas as governance, policies, strategic planning and risk management, among others. The draft principles also include risk assessment principles to describe how climate-related financial risks can be addressed in various risk categories.
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