Association of Banks in Singapore issues guidelines on responsible financing
THE Association of Banks in Singapore on Thursday issued its guidelines on responsible financing.
Banks are to disclose senior management's commitment to responsible financing, and the policy framework that supports this.
They should also allocate resources to support the implementation of responsible financing, and raise staff awareness on responsible financing. This is typically built around environmental, social, and governance (ESG) issues.
Banks will publish their ESG policy framework in 12-18 months' time. Banks are also expected to implement "robust governance systems" through policies and procedures by 2017.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover