Strengthening climate resilience in the financial services sector: Perspective from Québec’s AMF Climate Risk Management Guideline

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April 24, 2024 9:00 am - 10:00 am (PT) Virtual

In late 2023, the Autorité des marchés financiers’ (AMF), the organization that oversees Québec’s financial industry, published a draft Climate Risk Management Guideline, which will apply to licensed insurers, financial services cooperatives, authorized trust companies and other authorized deposit institutions. The Guideline acknowledges that climate-related risks can significantly affect the safety and soundness of Québec-regulated financial institutions, in turn affecting the integrity of the Canadian financial system.

In this webinar, the panelists will give a brief overview of the Guideline, its importance, and its implications for Québec-regulated financial institutions. The AMF has set out its expectations relating to climate change risk regarding six topics including governance. Concerning governance, the AMF expects that the roles and responsibilities of the members of the Board of Directors and senior management should be clearly defined so that they may assume their duties in addressing climate-related risks. The financial institution should address climate change-related impacts and the transition to a lower-carbon economy in its strategy.

*This webinar was conducted in French*