Disclosure of climate related financial risks for financial sector entities
-Payal Agarwal, Senior Manager | payal@vinodkothari.com
RBI has released a Draft Disclosure framework on Climate-related Financial Risks, 2024 (“Disclosure Framework”) on 28th February, 2024 proposing to make disclosure of climate-related financial risks mandatory for RBI-regulated entities. The proposed disclosures are based on the four thematic areas or pillars – (i) Governance, (ii) Strategy, (iii) Risk Management and (iv) Metrics and Targets – as recommended by the Task Force on Climate-related Financial Disclosures (“TCFD Recommendations”).
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