What's New? DFS Guidance on Climate Change

The guidance recently issued by the Department of Financial Services is designed to support Institutions’ efforts to identify, measure, monitor, and control their material climate-related financial and operational risks in a manner consistent with current risk management principles.  It addresses key components of prudent risk management by Institutions — including corporate governance, internal control frameworks, risk management processes and data collection and analysis — so that Institutions will incorporate assessment of these risks into their existing risk frameworks, taking a strategic and forward-looking approach.  

Read more HERE in The Gold Book.