JC3 aims to advance response to climate risks

“The CCPT provides a common framework for the classification of climate risk-related exposures of financial institutions to support risk assessments and encourage financial flows towards greening the economy,” Bank Negara and the Securities Commission (SC) said in a joint statement.

PETALING JAYA: The Joint Committee on Climate Change (JC3) aims to advance initiatives to strengthen the financial sector’s capacity in managing climate-related risks.

During its fifth meeting yesterday, JC3 said following the issuance of the Climate Change and Principle-Based Taxonomy (CCPT) in April 2021, a CCPT Implementation Group will be established to support its consistent and credible implementation by financial institutions.