Page 7 - சுவிஸ் நிதி சந்தை மேற்பார்வை அதிகாரம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Swiss Financial Market Supervisory Authority (FINMA) announced on Monday that it will require major banks and insurance companies to report transparently on climate-related financial risks in the future. Separately, a study ranking Swiss banks’ sustainability efforts highlighted room for improvement. Going forward, FINMA expects financial institutions to evaluate significant climate-related financial risks and the impact on their strategy, business model and financial planning. They must also disclose their process for identifying, assessing, and handling these risks, as well as publish quantitative information about them, FINMA said on Monday. The decision reflects the view that climate change also poses long-term risks for financial institutions. The new requirement applies to large banks and insurance companies. Meanwhile, a study carried out by the World Wildlife Fund (WWF) and the consulting firm PwC found that Swiss banks have made progress on sustainability, although the i

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