KUALA LUMPUR: The Joint Committee on Climate Change (JC3) members supported the proposal for financial institutions to make mandatory Task Force on Climate-related Financial Disclosures-aligned (TCFD) climate-related financial risk disclosures from 2024.
In a joint statement, the Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC) said the JC3 would seek feedback on this proposal as part of its consultation on the Application Guide and Reference Guide on Climate Risk Management and Scenario Analysis.
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