Kenya’s banks told to prepare climate risk plans by 2022
Central bank publishes guidance urging banks to integrate climate risk into broader risk management
The Central Bank of Kenya has published new guidance for banks to ensure climate-related risks are being incorporated into risk management frameworks.
In its guidance, published on October 15, the central bank sets out “basic” requirements that financial institutions should “consider” adopting.
The central bank has also outlined a provisional roadmap for implementing its guidance. Key among the recommendations is for banks to disclose climate-related risks in line with the Task Force on
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