Regulators across different jurisdictions are increasingly mandating climate-related disclosures amidst rising investor pressure on climate-related corporate accountability.
On 21 March 2022, the US Securities and Exchange Commission (“the SEC”) proposed rule changes that will require registrants to disclose climate risk information in their registration statements and periodic reports. Applicable to all registrants that file with the SEC, the proposed disclosure rules aims to mandate a clear identification of climate-related risks and opportunities, setting a strategic prerequisite for the impact of climate-related issues on a firm's business outlook, measure GHG emissions, and translate all of these through to financial impacts to the bottom line.
This publication (part of PwC's Risk and Regulatory Outlook 2022 series) shares how this important development is expected to influence the pace and degree to which banks in Southeast Asia need to integrate ESG strategies and related milestones into their overall strategy. It shares some practical steps banks in Southeast Asia can take to prepare for ESG disclosure requirements and build KPIs or change programmes around this topic.
We highlight the key aspects of the current regulatory environment in the region affecting the banking industry and share our perspectives, outlook, and recommendations across the three most relevant aspects for banks today.
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In an era where good corporate citizenship is becoming a norm, reporting on environmental, social and governance (ESG) related issues is fast becoming a common practice among major listed companies. For these companies, the annual report is a key communication tool to disclose sustainable practices to...
South East Asia's Sustainability and Climate Change Leader, PwC Malaysia
Tel: +60 (3) 2173 0348
