Legal & Regulatory News

Financial Services Regulatory Authority of Abu Dhabi Global Market issues draft Principles for the Effective Management of Climate-Related Financial Risks for consultation

On 28 March 2023, the Financial Services Regulatory Authority of Abu Dhabi Global Market (FSRA) alongside members of the UAE Sustainable Finance Working Group issued its draft 'Principles for the Effective Management of Climate-Related Financial Risks' (the Principles) for consultation.

The FSRA issued the consultation with the aim of obtaining feedback on the clarity of the Principles, their relevance to firms within the scope of application (to be determined by each regulator), and the proposed implementation approach.

The consultation closed on 1 May 2023.

Click here to read the Principles.