OSFI Climate Consultation – Submission

Hands Holding Globe Glass In Green Forest - Environment Concept

About the Submission:

Monday, March 29, 2021The Office of the Superintendent of Financial Institutions (OSFI) launched a three-month consultation with the publication of a discussion paper, Navigating Uncertainty in Climate Change: Promoting Preparedness and Resilience to Climate-Related Risks. Through this consultation, OSFI is seeking to engage federally regulated financial institutions (FRFIs), federally regulated pension plans (FRPPs) and other interested stakeholders in a dialogue on climate-related risks.Drawing from our expertise in risk management and climate change, and by presenting our view on the state of play today on climate risk management in Canada, GRI has submitted the following response paper which addresses some of the prudential tools proposed for enhancing preparedness and resilience to these risks. Members may find GRI’s submission of interest as they prepare their own responses for the April 12, 2021 deadline.