Australia bank regulator expects climate to be included in risk management
SYDNEY, March 20 (Reuters) - Australia's banking regulator
said on Wednesday it expects lenders and insurers to include
climate as one of the material risks they manage to ensure they
meet obligations to depositors and policy holders.
"APRA has advised that these risks are material, foreseeable
and actionable now," the Australian Prudential Regulatory
Authority (APRA) said in a statement.
The move follows comments by a senior central banker this
month, who said climate modelling should start to be mapped into
the Reserve Bank of Australia's economic scenarios.
(Reporting by Paulina Duran; Editing by Christopher Cushing)
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