iBaFin is consulting its draft Guidance Notice on Dealing with Sustainability Risks.

The objective of this Guidance Notice is to provide entities supervised by BaFin with guidance on dealing with the increasingly important issue of sustainability risks. It cites numerous examples and questions for the purposes of illustration. BaFin intends this Guidance Notice to serve as a compendium of good practices that supervised entities should apply, taking the principle of proportionality into account. This Guidance Notice therefore represents a useful addition to the minimum requirements for risk management for credit institutions, insurance undertakings and asset management companies.

This consultation provides interested stakeholders with the opportunity to comment on BaFin’s expectations and recommendations. BaFin is particularly interested in opinions on the practicability, examples and potential impacts as well as interdependencies.
Comments may be submitted by 3 November 2019, including the reference (Consultation 16/2019, QIN 2017-2019-0001) as follows:
• By post to: Bundesanstalt für Finanzdienstleistungsaufsicht, Chief Sustainable Finance Officer, IFR 6
or
• By e-mail to [email protected]

The consultation is carried out exclusively in writing and electronically. The comments received are intended to be published following internal evaluation. Please inform me in case you disagree with the publication of your comments or their passing on to third parties.

On 29 November 2019, the comments received were added to this article (see "Additional information" below).