Bank of Mexico creates environmental and social risk department
Central bank’s attitude to environmental risk might put it at odds with government, says commentator
The Bank of Mexico has created a new division charged with managing environmental and social risks, Mexican media reports.
A provision creating the department was added to the central bank’s internal regulatory code, and the amended code was published in the official gazette on October 15.
The department will “develop relevant metrics to evaluate and monitor physical and transition risks”. It will also develop a framework for sustainable credit and asset management and encourage the
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Effective risk management should be governance-oriented and top-down; not operationally oriented and bottom-up, writes John Mendzela