SBFN Member Since:
2013
Member Organisations
National Bank of Georgia
Progress Against sub Pillars
Framework Documents
| Country | Policies/ Principles/ Guidelines | Year | Issuer |
|---|---|---|---|
| Georgia | 2020 | National Bank of Georgia | |
| Georgia | 2021 | National Bank of Georgia | |
| Georgia | Regulation on Disclosure Requirements for Commercial Banks within Pillar 3 (Georgian) | 2021 | National Bank of Georgia |
| Georgia | 2019 | Government of Georgia | |
| Georgia | 2018 | Government of Georgia | |
| Georgia | 2021 | National Bank of Georgia |
Pillar 1 - ESG Integration - Strategic Alignment
National Framework
P 1.1 – Has the regulator or industry association published a national framework (“Framework”) for the banking sector that sets out expectations for integrating the consideration of environmental, social, and governance (ESG) risks and performance?
Yes
Source Reference Detail
d. e.fe. Roadmap for Sustainable Finance in Georgia Page 9, objective, Page14 action plan & timeline)d. f. Corporate governance code covers The Corporate Governance Code has been udpated in June 2021, and thus is taken into consideration during the data verification for all pillars. Article 3.7, Article 17.13, Article 20
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)Corporate Governance Code of Commercial Banks
Source Reference Description
Refer to description
P 1.2 – Has the relevant regulator or industry association published a Framework for capital markets, investment, insurance or other non-lending FIs that sets out expectations for integrating the consideration of environmental, social, and governance (ESG) risks and performance?
Yes
Source Reference Detail
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
Pages 8, 10, 12, 13 and 14
Pillar 1 - ESG Integration - Strategic Alignment
Alignment with International Goals & Standards
P 1.3 – Does the Framework make reference to international sustainable development frameworks or goals?
Yes
Source Reference Detail
Global Development in Sustainable Finance
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
Page 4
P 1.4 – Does the Framework make reference to established international ESG risk management standards and principles for FIs??
Yes
Source Reference Detail
d. e.fe. Roadmap for Sustainable Finance in Georgia Page 9, objective, Page14 action plan & timeline)d. f. Corporate governance code covers The Corporate Governance Code has been udpated in June 2021, and thus is taken into consideration during the data verification for all pillars. Article 3.7, Article 17.13, Article 20
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
Page 11
Pillar 1 - ESG Integration - Strategic Alignment
Alignment with national goals & strategies
P 1.5 – Does the Framework make reference to specific national development objectives, plans, policies, goals, or targets?
Yes
Source Reference Detail
ESG Risk Management
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
Page 4 – 5
P 1.6 – Does any cooperation exist between agencies or between the regulator and industry association with respect to policy design and/or implementation related to ESG integration?
Yes
Source Reference Detail
–
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
Page 8, 13
P 1.7 – Does any inter-agency data sharing currently exist related to ESG integration by FIs?
Yes
Source Reference Detail
–
Source Reference Document
SF working group members have been providing the ESG related information to the NBG upon request
Source Reference Description
–
Pillar 1 - ESG Integration - Regulatory and Industry Association Actions
Overall Approach & Strategy
P 1.8 – Does the Framework provide guidance on the role of the regulator or industry association with regard to assessing and managing ESG risk and performance in the financial sector?
Yes
Source Reference Detail
Identifying, assessing and managing environmental, including climate, risks and social risks as part of credit decision making is still new to banks and other financial institutions. Therefore, for financial institutions to manage ESG risks as part of credit decision making, the NBG’s guidance and involvement in developing technical tools and capacity building is important to drive behavior change and create a level playing ground for financial institutions on risk management practices.
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
Page 12 – 13
P 1.9 – Has the regulator or industry association undertaken market assessment to identify systemic ESG risks through analysis of the portfolios of supervised entities/members and published the results?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
Pillar 1 - ESG Integration - Regulatory and Industry Association Actions
Technical Guidance
P 1.10 – Does the Framework provide technical guidance or tools to support implementation of ESG risk and performance management by the financial sector?
Yes
Source Reference Detail
–
Source Reference Document
ESG Reporting and Disclosure Principles
Source Reference Description
Page 13, 20
Pillar 1 - ESG Integration - Regulatory and Industry Association Actions
Supervisory Activities & incentives
P 1.11 – Is the implementation of the Framework regularly monitored and/or information regularly collected from FIs by the regulator and/or industry association?
Yes
Source Reference Detail
CG code sets mandatory ESG disclosure requirement for commercial bank
Source Reference Document
Corporate Covernance Code for Commercial Banks
Source Reference Description
Article 20
P 1.12 – Does the regulator or industry association provide any financial or non-financial incentives for FIs to manage ESG performance as part of the Framework?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
P 1.13 – Does the regulator or industry association apply any disincentives/penalties for non-compliance by FIs in terms of expectations from the regulator and/or industry association related to ESG risk management as part of the Framework?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
Pillar 1 - ESG Integration - Regulatory and Industry Association Actions
Tracking & Aggregated Disclosure
P 1.14 – Has the regulator or industry association established a data collection approach and database to track or regularly publish data related to ESG integration by FIs as part of the Framework?
Yes
Source Reference Detail
–
Source Reference Document
ESG Reporting and Disclosure Principles
Source Reference Description
–
Pillar 1 - ESG Integration - Expectations of FI Actions
Strategy & Governance
P 1.15 – Does the Framework require/ask the FI’s board of directors (or highest governing body) to approve an ESRM and/or ESG integration strategy, and to supervise its implementation?
Yes
Source Reference Detail
–
Source Reference Document
Corporate Covernance Code for Commercial Banks
Source Reference Description
Article 3.7, Article 17.13
Pillar 1 - ESG Integration - Expectations of FI Actions
Organizational Structure & Capacity Building
P 1.16 – Does the Framework require/ask FIs to allocate resources/budget commensurate with portfolio ESG risks and define roles and responsibilities for ESG integration within the organization?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
P 1.17 – Does the Framework require/ask FIs to develop and maintain the ESG expertise and capacity of staff commensurate with portfolio ESG risks through regular training and learning?
Yes
Source Reference Detail
–
Source Reference Document
Corporate Covernance Code for Commercial Banks
Source Reference Description
Article 3.7, Article 17.13
P 1.18 – Does the Framework require/ask FIs to create incentives for managers to reduce the ESG risk-level of the portfolio over a specified timeframe?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
Pillar 1 - ESG Integration - Expectations of FI Actions
Policies & Procedures
P 1.19 – Does the Framework require/ask FIs to develop policies and procedures to identify, classify, measure, monitor, and manage ESG risks and performance throughout the financing cycle at the client level and/or the transaction/project level?
Yes
Source Reference Detail
–
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)Corporate Covernance Code for Commercial Banks
Source Reference Description
(1) Page 10(2) Article 17.13
P 1.20 – Does the Framework require/ask FIs to undertake a regular review and monitoring of ESG risk exposure at aggregate portfolio level?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
P 1.21 – Does the Framework require/ask FIs to establish and maintain an external inquiry/complaints/grievance mechanism for interested and affected stakeholders in relation to ESG practices?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
Pillar 1 - ESG Integration - Expectations of FI Actions
Tracking, Reporting & Disclosure
P 1.22 – Does the Framework require/ask FIs to report ESG risks and performance to the regulator or industry association?
Yes
Source Reference Detail
–
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
–
P 1.23 – Does the Framework require/ask FIs to report on ESG integration publicly?
Yes
Source Reference Detail
–
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
–
P 1.24 – Does the Framework require/ask FIs to track credit risk (e.g. loan defaults) and/or financial returns in relation to ESG risk level?
Yes
Source Reference Detail
–
Source Reference Document
ESG Reporting and Disclosure Principles
Source Reference Description
–
Pillar 2 - Climate Risk Management - Strategic Alignment
National Framework
P 2.25 – Has the regulator or industry association published a national framework (“Framework”) for the banking sector that sets out expectations for integrating the consideration and management of climate risks and their impact in the national economy?
Yes
Source Reference Detail
Roadmap for Sustainable Finance in Georgia (2019) references the importance of climate risk management, including climate-related physical and transition risk (Pages 7-9). CG Code, Article 3.7 Core Principles of Corporate Governance (“ESG considerations also include issues, such as climate change risk, that can materially affect the performance of a bank’s investments, loans, and other lending activity.”; Article 17 Risk Management (“The Supervisory Board, together with financial risks, shall assess non-financial risks that contain ESG, including climate change risks.”). ESG Reporting and Disclosure Principles (2020), Article 6, page 5, (“As financial intermediaries, banks may assume exposure to ESG-risks through their borrowers, customers, or counterparties. Examples include banks’ provision of loans to, or underwriting and trading of securities of, companies with direct exposure to climate-related risks”); Articles 55 and 56 (Principle Risks and Management, page 18), including identification and disclsoure of expsoure to physical and transisition risks, and incoporation into in the analysis of traditional risk categories such as credit risk, market risk and operational risk.
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
Refer to description
P 2.26 – Has the relevant regulator or industry association published a Framework for capital markets, investment, insurance or other non-lending FIs that sets out expectations for integrating the consideration and management of climate risks and their impact in the national economy?
Yes
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
Pillar 2 - Climate Risk Management - Strategic Alignment
Alignment with International Goals & Standards
P 2.27 – Does the Framework make reference to international agreements or frameworks to address climate?
Yes
Source Reference Detail
Global Trends in Sustainable Finance (Page 4) references the Paris Agreement and the SDGs.
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
Global Trends in Sustainable Finance (Page 4) references the Paris Agreement and the SDGs.
P 2.28 – Does the Framework recognize or align with established regional or international good practice for climate risk management and disclosure by FIs?
Yes
Source Reference Detail
Roadmap for Sustainable Finance in Georgia (2019), Transparency and Market Discipline (Page 14) references the TCFD. ESG Reporting and Disclosure Principles (2020), references ot TCFD include Article 22 (Page 9); Article 38 (Page 14); Article 55 (Page 18).
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)ESG Reporting and Disclosure Principles
Source Reference Description
Refer to description
Pillar 2 - Climate Risk Management - Strategic Alignment
Alignment with National Goals & Strategies
P 2.29 – Has the regulator or industry association aligned the Framework with national goals to address climate change in line with the country’s Nationally Determined Contributions (NDCs) to the Paris Agreement?
Yes
Source Reference Detail
National Bank of Georgia, Trends in Sustainable Finance (Page 4-5) references the Paris Agreement and the Nationally Determined Contribution.
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
–
P 2.30 – Does any cooperation exist between agencies, or between government and industry association, with respect to policy design or implementation related to climate risk management?
Yes
Source Reference Detail
Roadmap for Sustainable Finance in Georgia (2019), pages 9 and 15. National Bank of Georgia has established Sustainable Finance Working Group to promote regulatory-industry collaboration (including financial institutions and the Ministries of Finance and Agriculture), and interacts with international organizations including OECD, IFC/WB.
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
–
P 2.31 – Does any inter-agency data sharing currently exist related to climate risk management by FIs?
Yes
Source Reference Detail
Roadmap for Sustainable Finance in Georgia (2019), pages 9 and 15. National Bank of Georgia has established Sustainable Finance Working Group to promote regulatory-industry collaboration (including financial institutions and the Ministries of Finance and Agriculture), including data sharing on ESG and climate risk issues..
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
–
Pillar 2 - Climate Risk Management - Regulatory and Industry Association Actions
Overall Approach & Strategy
P 2.32 – Has the regulator or industry association undertaken research on historical impacts to the economy and financial sector from climate change, and/or future expected impacts resulting from physical and transition climate risks?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
P 2.33 -Does the Framework identify key sources of GHG emissions – such as in particular sectors – as priorities in the proactive management of climate risks by the financial sector?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
P 2.34 – Does the Framework incorporate the conservation/restoration of natural carbon sinks (such as oceans, forests, mangroves, grasslands, and soils) as an important part of reducing climate change risks? (e.g., through guidelines, scenario analysis, targets, or incentives for FIs)
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
P 2.35 – Has the regulator or industry association developed an internal strategy to address climate risk, and/or embedded climate risk management into its governance, organizational structures, and budget as part of the Framework?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
P 2.36 – Has the regulator or industry association undertaken any activities to expand and deepen analytical understanding of national and/or cross-border physical and transition climate risks, and to raise awareness as to how these risks may transmit to, and impact, the financial sector?
Yes
Source Reference Detail
National Bank of Georgia organizes sustainable finance conferences that aim to increase the awareness about the importance of integrating climate change and ESG risks into decision-making. The last conference was held on November 4th, 2019.
Source Reference Document
–
Source Reference Description
–
Pillar 2 - Climate Risk Management - Regulatory and Industry Association Actions
Technical Guidance
P 2.37 – Has the regulator or industry association developed risk assessment approaches, methodologies, or tools to understand and assess the financial sector’s exposure to climate risk as part of the Framework?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
Pillar 2 - Climate Risk Management - Regulatory and Industry Association Actions
Supervisory Activities & Incentives
P 2.38 – As part of the Framework, has the regulator clarified supervisory expectations with regard to climate risk management by FIs, including consideration of international good practices?
Yes
Source Reference Detail
CG Code, Article 17.13: “The Supervisory Board, together with financial risks, shall assess non-financial risks that contain ESG, including climate change risks. The Supervisory Board shall ensure the full integration of the ESG risks into the bank’s risk management framework. As part of the risk management system oversight, the Supervisory Board shall regularly assess ESG risks and verify that these risks are identified, measured, monitored, and their impacts are mitigated appropriately.”
Source Reference Document
Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
–
P 2.39 – Has the regulator started to explicitly embed climate-related risk in supervisory activities and review processes as part of the Framework?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
P 2.40 – Has the regulator started to explicitly embed climate-related risk in supervisory activities and review processes as part of the Framework?
Yes
Source Reference Detail
CG Code, Article 20 (Information Disclosure and Transparency). ESG Reporting and Disclosure Principles (2020) Articles 55 and 56 (Principle Risks and Management, page 18), including identification and disclsoure of expsoure to climate related physical and transisition risks, and incoporation into in the analysis of traditional risk categories such as credit risk, market risk and operational risk.
Source Reference Document
Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
–
P 2.41 – Has the regulator started to explicitly embed climate-related risk in supervisory activities and review processes as part of the Framework?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
Pillar 2 - Climate Risk Management - Regulatory and Industry Association Actions
Tracking & Aggregated Disclosure
P 2.42 – Does the regulator or industry association regularly collect and/or report market-level and/or FI-level data on climate-related financial sector risks as part of the Framework?
Yes
Source Reference Detail
CG Code, Article 20 (Information Disclosure and Transparency). ESG Reporting and Disclosure Principles (2020) Articles 55 and 56 (Principle Risks and Management, page 18), including identification and disclsoure of expsoure to climate related physical and transisition risks, and incoporation into in the analysis of traditional risk categories such as credit risk, market risk and operational risk. ESG reporting and disclosure templates filled out by commercial banks will be published on NBG’s website in 2021.
Source Reference Document
Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
Pillar 2 - Climate Risk Management - Expectations of FI Actions
Strategy & Governance
P 2.43 – Does the Framework require/ask FIs to establish a strategy for climate risk management with responsibility at the board of director level (or highest governing body)?
Yes
Source Reference Detail
CG Code, Article 3.7: “A bank shall incorporate environmental, social, and governance (ESG) considerations into the bank’s strategy in order to support its long-term sustainability. ESG considerations include those issues that can materially affect the bank’s operations, for example, the gender diversity of employees. ESG considerations also include issues, such as climate change risk, that can materially affect the performance of a bank’s investments, loans, and other lending activity.” ESG Reporting and Disclosure Principles (2020) Articles 30 and 33.
Source Reference Document
Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
–
Pillar 2 - Climate Risk Management - Expectations of FI Actions
Organizational Structure & Capacity Building
P 2.44 – Does the Framework require/ask FIs to define the roles and responsibilities and related capacities of the FI’s senior management and operational staff in identifying, assessing, and managing climate-related financial risks and opportunities?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
Pillar 2 - Climate Risk Management - Expectations of FI Actions
Policies & Procedures
P 2.45 – Does the Framework require/ask FIs to expand existing risk management processes to identify, measure, monitor, and manage/mitigate financial risks from climate change?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
Pillar 2 - Climate Risk Management - Regulatory and Industry Association Actions
Tracking, reporting & disclosure
P 2.46 – Does the Framework require/ask FIs to report on their overall approaches to climate risk management in line with international good practices (e.g., TCFD), or establish a timeline by which FIs should begin to align their reporting with such practices?
Yes
Source Reference Detail
CG Code, Article 20 (Information Disclosure and Transparency) and Article 17.13: “The Supervisory Board, together with financial risks, shall assess non-financial risks that contain ESG, including climate change risks. The Supervisory Board shall ensure the full integration of the ESG risks into the bank’s risk management framework. As part of the risk management system oversight, the Supervisory Board shall regularly assess ESG risks and verify that these risks are identified, measured, monitored, and their impacts are mitigated appropriately.” ESG Reporting and Disclosure Principles (2020) Articles 55 and 56 (Principle Risks and Management, page 18), including identification and disclsoure of expsoure to climate related physical and transisition risks, and incoporation into in the analysis of traditional risk categories such as credit risk, market risk and operational risk.
Source Reference Document
Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
CG Code, Article 20 (Information Disclosure and Transparency) and Article 17.13: “The Supervisory Board, together with financial risks, shall assess non-financial risks that contain ESG, including climate change risks. The Supervisory Board shall ensure the full integration of the ESG risks into the bank’s risk management framework. As part of the risk management system oversight, the Supervisory Board shall regularly assess ESG risks and verify that these risks are identified, measured, monitored, and their impacts are mitigated appropriately.” ESG Reporting and Disclosure Principles (2020) Articles 55 and 56 (Principle Risks and Management, page 18), including identification and disclsoure of expsoure to climate related physical and transisition risks, and incoporation into in the analysis of traditional risk categories such as credit risk, market risk and operational risk.
P 2.47 – Does the Framework require/ask FIs to identify, measure, and report on exposure to sectors which are vulnerable to transition risk and physical risk?
No
Source Reference Detail
–
Source Reference Document
–
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P 2.48 – Does the Framework require/ask FIs to adopt and report on performance targets to reduce portfolio greenhouse gas (GHG) emissions on a regular basis?
Yes
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
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P 2.49 – Does the Framework require/ask FIs to adopt and report on performance targets to reduce exposure to climate change risks at the portfolio level on a regular basis?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
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Pillar 3 - Financing Sustainability - Strategic Alignment
National Framework
P 3.50 – Has the regulator or industry association published a national framework (“Framework”) for the banking sector that sets out expectations for integrating the consideration of instruments, goals, and standards for financing sustainability, including requirements for ensuring credibility and managing and measuring resulting impacts in the national economy?
Yes
Source Reference Detail
–
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
–
P 3.51 – Has the relevant regulator or industry association published a Framework for capital markets, investment, insurance or other non-lending FIs that sets out expectations for integrating the consideration of instruments, goals, and standards for financing sustainability, including requirements for ensuring credibility and managing and measuring resulting impacts in the national economy
Yes
Source Reference Detail
–
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
–
Pillar 3 - Financing Sustainability - Strategic Alignment
Alignment with International Goals & Standards
P 3.52 – Has the regulator or industry association developed a strategy, regulations, or set of frameworks for stimulating the allocation of capital to sustainable assets, projects, and related sectors in line with global goals, such as the Sustainable Development Goals (SDGs)?
Yes
Source Reference Detail
–
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
–
P 3.53 – Does the Framework recognize and/or align with existing standards, voluntary principles, or market good practices related to sustainable finance instruments?
Yes
Source Reference Detail
–
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)
Source Reference Description
–
Pillar 3 - Financing Sustainability - Regulatory and Industry Association Actions
Alignment with national goals & strategies
P 3.54 – Does the Framework enable the achievement of stated national objectives by guiding capital to sectors, assets, and projects that have environmental and social benefits in line with national sustainable development priorities, strategies, targets, and the size of sustainable investment needs, and taking into account the local barriers to scaling-up sustainable finance?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
–
P 3.55 – Does the Framework enable the achievement of stated national objectives by guiding capital to sectors, assets, and projects that have environmental and social benefits in line with national sustainable development priorities, strategies, targets, and the size of sustainable investment needs, and taking into account the local barriers to scaling-up sustainable finance?
Yes
Source Reference Detail
–
Source Reference Document
Roadmap for Sustainable Finance in Georgia (2019)Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
Page 8, 13
P 3.56 – Does any inter-agency data sharing currently exist related to stimulating and monitoring sustainable finance flows?
Yes
Source Reference Detail
–
Source Reference Document
–
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Pillar 3 - Financing Sustainability - Strategic Alignment
Overall Approach & Strategy
P 3.57 – Does the Framework require/ask the regulator or industry association to establish mechanisms to identify and encourage the allocation of capital to sustainable sectors, assets, and projects?
No
Source Reference Detail
–
Source Reference Document
–
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Pillar 3 - Financing Sustainability - Regulatory and Industry Association Actions
Technical Guidance
P 3.58 – Does the Framework require/ask the regulator or industry association to establish mechanisms to identify and encourage the allocation of capital to sustainable sectors, assets, and projects?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
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P 3.59 – Does the Framework provide guidelines for extending green, social or sustainability-focused loans (excluding bonds)?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
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P 3.60 – Does the Framework provide guidelines for issuance of green, social or sustainability bonds?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
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P 3.61 – Does the Framework require/ask for external party verification to ensure the credibility of sustainability instruments?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
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Pillar 3 - Financing Sustainability - Regulatory and Industry Association Actions -
Supervisory activities & incentives
P 3.62 – Does the regulator or industry association monitor information reported by FIs related to green/social/sustainability investment, lending, and other instruments to prevent greenwashing and social-washing?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
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P 3.63 – Are there any financial or non-financial incentives for FIs to develop and grow green, social, or sustainability finance instruments?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
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Pillar 3 - Financing Sustainability - Regulatory and Industry Association Actions -
Tracking & Aggregated Disclosure
P 3.64 – Does the regulator or industry association collect and/or publish data from FIs or other sources about allocation of capital to green/social/sustainability assets, projects, or sectors?
Yes
Source Reference Detail
–
Source Reference Document
ESG Reporting and Disclosure Principles
Source Reference Description
–
Pillar 3 - Financing Sustainability - Expectations of FI Actions
Strategy & Governance
P 3.65 – Does the Framework require/ask FIs to establish a strategy, governance, or high-level targets, including at the Board of Directors level, for capital allocation to sustainable assets, projects, or sectors?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
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Pillar 3 - Financing Sustainability - Expectations of FI Actions
Organizational Structure & Capacity Building
P 3.66 – Does the Framework require/ask FIs to define internal staff roles and responsibilities to encourage finance flows to green, social, and/or sustainability-focused investments?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
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P 3.67 – Does the Framework require/ask FIs to develop and maintain internal staff capacity on green, social, or sustainability products through regular training and learning?
No
Source Reference Detail
–
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–
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Pillar 3 - Financing Sustainability - Expectations of FI Actions
Policies & Procedures
P 3.68 – Does the Framework require/ask FIs to put in place policies and procedures for defining, issuing, managing proceeds, tracking performance, and reporting on green, social or sustainability-focused products?
Yes
Source Reference Detail
–
Source Reference Document
Corporate Covernance Code for Commercial Banks
Source Reference Description
Article 17.13, Article 7.3, Article 20
P 3.69 – Does the Framework require/ask FIs to appoint an independent external reviewer to confirm that the FI’s internal framework meets the requirements of the recognized national framework and regulations, or aligns to international standards?
No
Source Reference Detail
–
Source Reference Document
–
Source Reference Description
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P 3.70 – Does the Framework require/ask that FIs create incentives for managers to increase sustainable loans or investments in the portfolio?
No
Source Reference Detail
Source Reference Document
–
Source Reference Description
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Pillar 3 - Financing Sustainability - Expectations of FI Actions
Tracking, reporting & disclosure
P 3.71 – Does the Framework require/ask FIs to publish annual updates on the performance and impacts of the sustainability instruments in compliance with relevant national and/or international standards?
Yes
Source Reference Detail
–
Source Reference Document
Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
Article 20, CG Code
P 3.72 – Does the Framework require/ask FIs to obtain and disclose independent review of metrics reported annually in relation to the social and environmental outcomes and impacts achieved through the sustainability instruments?
No
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–
Source Reference Document
–
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P 3.73 – Does the Framework require/ask FIs to obtain and disclose independent review of metrics reported annually in relation to the social and environmental outcomes and impacts achieved through the sustainability instruments?
Yes
Source Reference Detail
–
Source Reference Document
Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
Article 20, CG Code
P 3.74 – Does the Framework require/ask FIs to report to the regulator(s) or industry association(s) on green, social, and/or sustainability bonds or other positive impact investments?
Yes
Source Reference Detail
–
Source Reference Document
Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
Article 20, CG Code
P 3.75 – Does the Framework require/ask FIs to report publicly on their green, social and sustainability-focused finance activities and positive outcomes or impacts (i.e. not only to the regulator or shareholders)?
Yes
Source Reference Detail
–
Source Reference Document
Corporate Covernance Code for Commercial BanksESG Reporting and Disclosure Principles
Source Reference Description
Article 20, CG Code
