Bank Negara: Prepare for climate change impact

Recognising its risks and impacts, Bank Negara has issued a discussion paper on climate change and principal-based taxonomy which aims to provide an overview of the matter

KUALA LUMPUR: Climate change is fast becoming a material source of structural change that has or may have a significant impact on the financial system and the wider economy.

Recognising its risks and impacts, Bank Negara has issued a discussion paper on climate change and principal-based taxonomy which aims to provide an overview of the matter.

The discussion paper would serve as guidance to facilitate financial institutions in identifying and classifying economic activities that could contribute to climate change.