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ARTICLE · 30 JULY 2024

Quebec's Financial Sector Regulator Publishes Its Climate Risk Management Guideline

Blake, Cassels & Graydon LLP
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On July 4, 2024, Quebec's financial sector regulator, the Autorité des marchés financiers (AMF), published its Climate Risk Management Guideline (Guideline). The Guideline aims to build the resilience...

CanadaFinance and Banking
Annick Demers
Annick Demers
Louis Morisset
Louis Morisset
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On July 4, 2024, Quebec's financial sector regulator, the Autorité des marchés financiers (AMF), published its Climate Risk Management Guideline (Guideline). The Guideline aims to build the resilience of the financial sector and financial institutions against climate-related risk. It also encourages financial institutions to include these risks in their integrated risk management processes.

The Guideline applies to insurers, financial services cooperatives, trust and savings companies, as well as other deposit institutions authorized by the AMF to do business in Quebec (financial institutions). It takes into account the most recent climate risk disclosure recommendations issued by various international standards bodies, including the Task Force on Climate-related Financial Disclosures, the International Sustainability Standards Board (ISSB), the Association of Insurance Supervisors, and the Basel Committee on Banking Supervision, all of which provide climate risk

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