NYDFS issues final guidance for banks concerning climate change risks

Its regulated institutions need to appropriately manage the material risks associated with climate change as a matter of safety and soundness.

The New York Department of Financial Services (NYDFS) has just released guidance to support efforts by regulated institutions in assessing and managing their material climate-related financial and operational risks.

The guidance clarifies the agency’s expectation that regulated institutions start integrating both financial and operational risks from climate change into their

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