Guideline 2023
Prudential Standard on Climate-Related and Environmental Risks for Institutions Licensed under the Banking Act, 2015
Issued by Eastern Caribbean Central Bank
Effective: 1 Mar 2024
Plain-English summary
ECCB standard issued in August 2023 under s.184 of the Banking Act and effective from 1 March 2024. It requires board oversight of climate and environmental risks, annual stress-testing and scenario analysis, and disclosure on governance, strategy, risk management and metrics (para. 5). Reports on material impacts are due within 14 days, stress-test reports within 30 days and annual assessments within 60 days (para. 5.6). The enabling legislation named in its footnote includes Grenada.
Who it applies to
Banking
Topics
Prudential & Capital ESG & Climate Risk
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