The Joint Committee on Climate Change Sub-Committee 1 (JC3 SC1) via the Climate Change and Principle-based Taxonomy Implementation Group (CCPT IG) and technical partner, World Wide Fund for Nature (WWF) Malaysia has updated the following documents to facilitate financial institutions' (FI) effective implementation of CCPT classification. The updated documents are:
- Due Diligence Questions (DDQ) for assessment of BNM CCPT Guiding Principles 3 & 4 (GP3 & GP4)
The DDQ contains a foundational set of questions for mandatory adoption by FIs, in assessing compliance with GP3 and GP4, specifically client's negative impact on environment and climate (i.e., no significant harm) and measures undertaken to remediate the negative impact (i.e., remedial measures to transition). First published in April 2023, the DDQ has been refined to include GP3's scope on GHG emissions, as well as improve clarity and user-friendliness.
- Guidance Notes (GN) to facilitate adoption of DDQ for GP3 & GP4:
The GN provides detailed guidance to support the adoption of DDQ for GP3 & GP4 assessment. The document has been updated to include relevant data sources in the Climate Data Catalogue published by the Joint Committee on Climate Change Sub-Committee 5 (JC3 SC5) as well as other relevant assessment tools and references.
- Frequently Asked Questions (FAQs):
The FAQ entails commonly asked questions on CCPT assessment. The document has been updated to include clarification on expectations entailed in BNM¡¯s Dear CEO letter (CCPT Review 2023 - Observations and Expectations on Financial Institutions) issued on 14 November 2023.
? Bank Negara Malaysia, 2024. All rights reserved.