unepfi-非洲金融部门的气候风险监管和相关私营部门举措（英）-2021.11-45正式版.docx

ClimateriskregulationinAfrica,sfinancialsectorandrelatedprivatesectorinitiativesBaseline study November 2021GLOBALCENTER ONADAPTATIONThis report was prepared by the following organisations:About心口* UeVEL0f*VEH' BANK GROUPGLOBALCENTER ON ADAPTATIONUN®eviromnifinanceprotM<mMtt*UvTheAfricanDevelopmentBank(AfDB)isamultilateraldevelopmentfinanceinstitutionestablishedin1964withthemissiontohelpreducepoverty,improvelivingconditionsforAfricans,andmobiliseresourcesforthecontinentsenomicandsocialdevelopment.TheinstitutionaimsatassistingAfricancountries-individuallyandcollectively-intheireffortstoachievesustainableeconomicdevelopmentandsocialprogress.Tothisend,theBankseekstostimulateandmobiliseinternalandexternalresourcestopromoteinvestmentsaswellasprovideitsregionalmembercountrieswithtechnicalandfinancialassistance.www.afdb.orgTheGlobalCenteronAdaptation(GCA)isaninternationalorganisation,hostedbytheNetherlands,whichworksasasolutionsbrokertoaccelerateactionandsupportforadaptationsolutionsfromtheinternationaltothelocal,inpartnershipwiththepublicandprivatesectors,toensuretoensurethattheglobalcommunitylearnsfromeachotherandworkstogether.www.gca.orgUnitedNationsEnvironmentProgramme-FinanceInitiative(UNEPFl)isapartnershipbetweenUNEPandtheglobalfinancialsectortomobiliseprivatesectorfinanceforsustainabledevelopment.UNEPFlworkswithmorethan400members,includingbanks,insurers,investors,andover100supportinginstitutions,tohelpcreateafinancialsectorthatservespeopleandplanetwhiledeliveringpositiveimpacts.ByleveragingtheUN'srole,UNEPFlacceleratessustainablefinance.www.unepfi.orgContentsDisclaimerI5AcknowledgementsI5ExecutivesummaryI61IKeyinsights1.1 Context,objectives,andscopeofthestudy1.1.1 AfricaisoneofthemostexposedregionstoI10fromtheregulatoryclimatechangewithhalfofthe10countriesmostaffectedbyclimatechangelocatedbaselinestudyonthecontinent1.1.2FinancialsectorconsiderationsofclimatechangeriskshavegainedmomentumgloballyinI10thepast10years1.1.3Takingstockofthestatusofclimate-riskintegrationinfinancialsectorprudentialregulatoryframeworksacrossselectedI12Africancountries1.2Perspectivesontheintegrationofclimateriskbyregulators,supervisors,andprivatesectorI16playersacrossAfrica1.2.1Climateriskisatoppriorityforalmost17allauthorities1.2.2Whilemostauthoritiesarecurrentlydefiningtheirapproachesonclimaterisk,fewcountries17haveissuedbindingregulationstodate1.2.3Authoritiesareconsideringadditionalregulatorymeasurestostrengthenthefinancialindustry's18integrationofclimaterisk1.2.4Keychallengesincludealackofdata,internalcapabilities,internationalstandards,20andcommonmethodologies1.2.5CollaborationandtechnicalassistanceareconsideredpowerfulenablerstostrengthenI21climateriskmanagement221.3Outlook:potentialactionsforstakeholders232ICountryprofiles2.1Countryanalysis-DemocraticRepublicoftheCongo(DRC)242.1.1Financialstabilityarchitecture242.1.2Climaterisk-relatedinitiatives242.2Countryanalysis-Egypt242.2.1Financialstabilityarchitecture242.2.2Climaterisk-relatedinitiatives252.3Countryanalysis-Ghana252.3.1Financialstabilityarchitecture252.3.2Climaterisk-relatedinitiatives262.4Countryanalysis-Kenya272.4.1Financialstabilityarchitecture272.4.2Climaterisk-relatedinitiatives272.5Countryanalysis-Mali292.5.1Financialstabilityarchitecture292.5.2Climaterisk-relatedinitiatives292.6Countryanalysis-Mauritius292.6.1Financialstabilityarchitecture292.6.2Climaterisk-relatedinitiatives302.7Countryanalysis-Morocco312.7.1Financialstabilityarchitecture312.7.2Climaterisk-relatedinitiatives312.8Countryanalysis-Nigeria322.8.1Financialstabilityarchitecture322.8.2Climaterisk-relatedinitiatives332.9Countryanalysis-Rwanda342.9.1Financialstabilityarchitecture342.9.2Climaterisk-relatedinitiatives342.10Countryanalysis-SouthAfrica352.10.1Financialstabilityarchitecture352.10.2Climaterisk-relatedinitiatives352.11Countryanalysis-Tunisia372.11.1Financialstabilityarchitecture372.11.2Climaterisk-relatedinitiatives372.12Countryanalysis-Zimbabwe382.12.1Financialstabilityarchitecture382.12.2Climaterisk-relatedinitiatives38Abbreviationsandacronyms39References40Methodology42Appendix-Detailedregulationanalysis43TableofFiguresFigure1:Transmissionchannelsfromclimateriskstofinancialrisks110Figure2:Halfofthe10countriesmostaffectedbyclimatechangeareinAfrica111Figure 3: NGFScommitmentsforclimate-relatedrisks113Figure 4: 20+interviewswithauthoritiesandprivateplayerscovering10+countrieswereorganisedbetweenSeptember-October2021116Figure 5: Alargemajorityofauthoritiesareconsideringclimate-relatedrisksasatoppriority117Figure 6: Overviewofclimaterisk-relatedregulationsandinitiativesacrossselectedAfricanregions118Figure 7: Authoritiesaremainlyconsideringorimplementingadditionalnonbindingmeasurestostrengthentheintegrationofclimateriskbythefinancialindustry120Figure 8: Mainchallengesindicatedbyauthorities121Figure 9: Mainchallengesindicatedbyprivateplayers122Figure 10: Overviewofmembershipsininternationalclimate-relatedinitiativesbycountry123Figure 11: Overviewofregulations,supervisorymeasures,andprivatesectorinitiativesrelatedtoclimateriskinEgypt125Figure 12: Overviewofregulations,supervisorymeasures,andprivatesectorinitiativesrelatedtoclimateriskinGhana126Figure 13: Overviewofregulations,supervisorymeasures,andprivatesectorinitiativesrelatedtoclimateriskinKenyaFigure 14: Overviewofregulations,supervisorymeasures,andprivatesectorinitiativesrelatedtoclimateriskinMauritiusFigure15:Overviewofregulations,supervisorymeasures,andprivatesectorinitiativesrelatedtoclimateriskinMorocco131Figure 16: Overviewofregulations,supervisorymeasures,andprivatesectorinitiativesrelatedtoclimateriskinNigeriaFigure 17: Overviewofregulations,supervisorymeasures,andprivatesectorinitiativesrelatedtoclimateriskinRwanda34Figure 18: Overviewofregulations,supervisorymeasures,andprivatesectorinitiativesrelatedtoclimateriskinSouthAfricaFigure 19: Overviewofspecificandprinciple-basedregulations143Figure 20: Detailedanalysisofspecificregulations144DisclaimerThisreportwasauthoredbytheAfricanDevelopmentBank(AfDB)5theGlobalCenteronAdaptation(GCA),andUNEnvironmentProgrammeFinanceInitiative(UNEPFl)withanalyticalsupportfromMcKinsey&Company.Theauthorsareresponsiblefortheconclusionsandrecommendationsoftheresearchanddonotguaranteetheaccuracyofthedataincludedinthispublicationandacceptnoresponsibilityforanyconsequenceoftheiruse.Bymakinganydesignationoforreferencetoaparticularterritoryorgeographicarea,orbyusingtheterm,country,inthisdocument,AfDB1GCA,andUNEPFldonotintendtomakeanyjudgmentsastothelegalorotherstatusofanyterritoryorarea.MentionofacommercialcompanyorproductinthisdocumentdoesnotimplyendorsementbyAfDB,GCA,andUNEPFl.Theuseofinformationfromthisdocumentforpublicityoradvertisingisnotpermitted.Trademarknamesandsymbolsareusedinaneditorialfashionwithnointentiononinfringementoftrademarkorcopyrightlaws.AcknowledgementsTheAfricanDevelopmentBank,GCAandUNEPFlwouldliketothankallthosewhogenerouslysharedtheirtimeandinsights.Inparticular,wewouldliketothank:FromtheAfricanDevelopmentBank-StefanNalletamby(DirectorFinancialSectorDevelopment)-Al-HamndouDorsouma(ActingDirectorClimateChange&GreenGrowth)-GarethPhilips(Environment&ClimateFinanceDivisionManager)FromtheGlobalCenterforAdaptation-AnthonyNyong(RegionalDirectorAfrica)FromtheUNEPFinanceInitiative-EricUsher(UNEPFlHead)-LieselvanAst(MembershipandRegionalCoordinationManager)"FromtheWorkingGroup-AfDB:DavinahMilenge5SofianeSekioua1RajhiHachem1DavidAshiagbor,andMelissaMurara-UNEPFl:ReubenWambuiandDavidCarlin-GCA:MariaTapiaExecutivesummary1 The Global Climate Risk Index 2021 analyses and ranks to what extent countries and regions have been affected by impacts of climate-related extreme weather events (storms, floods, heatwaves, etc.). The most recent data available for 2019 and from 2000 to 2019 were taken into account. The three countries most affected in 2019 were Mozambique and Zimbabwe, as well as the Bahamas. The Climate Risk Index (CRI) indicates a level of exposure and vulnerability to extreme events, which countries should understand as warnings in order to be prepared for more frequent and more severe events in the future. Impacts from extreme-weather events hit the prest countries hardest as these are particularly vulnerable to the damaging effects of a hazard, have a lower coping capacity and may need more time to rebuild and recover.2 Global Climate Risk Index 2021, GermanWatch, 2021.ExtremeweatherphenomenasuchasrisingtemperaturesandtheincreasingfrequencyofdroughtsandfloodsareaffectinglivesandlivelihoodsinAfrica.AccordingtotheGlobalClimateRiskIndex2021,fiveAfricancountriesrankedamongthe10countriesmostaffectedbyextremeweatherin2019:Mozambique(first),Zimbabwe(second),Malawi(fifth),SouthSudan(eighth),andNiger(ninth).2Thenegativesocietaleffectsofclimatechange,suchaslossoflifeandlivelihoods,arealreadyandwillcontinuetobetragicandsevere,andareakeyconcerntogovernmentsandindividuals.Morefrequentandsevereweatherevents,aswellasadelayedtransitiontoalow-carboneconomyandtheincreasinglymaterialfinanciallossesthesedirectlyandindirectlycausearealsoimpactingthefinancialsystem,withpotentialsystemicconsequencesforfinancialstability.Thethreatposedtotheglobalfinancialsystembyclimate-relatedrisksisrecognisedbytheFinancialStabilityOversightCouncil's2021reportonclimate-relatedfinancialriskandtheNetworkforGreeningtheFinancialSystem's(NGFS)October2021progressreportonglobalsupervisoryandcentralbankclimatescenarioexercises.Extremeweathereventscouldleadtodamageofphysicalassets,includingrealestate,productivecapital,andinfrastructure,consequentpropertyandcasualtyinsurancelosses,damagetobalancesheetsofhouseholdsandfirms,increasesindefaults,andpotentialfinancialsectordistress.Alateorsuddentransitiontoalow-carboneconomycouldresultinanabruptrepricingofclimate-relatedrisksandstrandedassets,whichcouldnegativelyimpactthebalancesheetsoffinancialinstitutions(FIs).Globally,thefinancialsector,sconsiderationofclimatechangeriskshasgatheredmomentuminthepast10years.Thishasmanifested,forexample,inthedevelopmentoftheTaskForceonClimate-RelatedFinancialDisclosures(TCFD)recommendations,theNGFS1andvariousinitiativesundertheUnitedNationsEnvironmentProgrammeFinanceInitiative(UNEPFl),suchasthePrinciplesforResponsibleBanking(PRB)5CollectiveCommitmenttoClimateAction(CCCA),andtheNet-ZeroAlliances.Whilesomecountriesandregionsareactivelydrivingtheirfinancialsectors,approachestoclimaterisksthroughregulatoryrequirements,otherjurisdictionsaremoreinfluencedbyprivatesectorefforts.Thisreportseekstoassesstheintegrationofclimate-relatedrisksintheprudential,financial,regulatory,andsupervisoryframeworksofaselectionofAfricancountriesandidentifypotentialleverstoincentivisetheirinternalisation.Itdoesnotexplorebroadergreensstainablefinance-relatedinitiatives,likebondsandprinciples.Toassessthestatusofclimateriskintegration,25interviewswerecompletedwith11financialsectorauthoritiescovering17c0untries3and14largeprivatesectorplayers(banksandinsurers)fromsevencountries,covering19countriesintotal.(SeelistofintervieweesinMethodology).Thesamplehasbeenbuilttorepresentadiversesetofcountriesintermsofgeographicalareasandeconomicdevelopment.Keytakeaways Nineoutofthe11authoritiesinterviewed(82%)considerclimateriskahighorveryhighpriorityontheiragendas Todate,fewfinancialsectorregulatorsandsupervisorshavepublishedregulationsorsupervisoryexpectationswithrespecttoFls,climateriskmanagementpractices.Basedonourinterviews,mostfinancialsectorregulatorsandsupervisorshavenotexplicitlyaddressedclimate-relatedorbroadersustainability-relatedrisksthroughbindingregulationsandsupervisoryguidelines.Whileauthoritiescanconsidertheserisksaspartoftheirexistingmandates,thereareongoingeffortstodevelopeffectiveandcompleteframeworkstoidentify,assess,manage,anddiscloseclimate-relatedrisksalignedtoprivatesectordevelopments. Thecountriesandregionsinthisassessmentcanbegroupedintothreebroadarchetypesbasedoncurrentregulatoryandsupervisoryapproaches:1. Established:Countriesthathavepublishedordraftedaspecificprudentialregulationtoidentify,measure,andmanageclimate-relatedrisks.ExamplesofcountriesinthisarchetypeareMauritiusandKenya.OnOctober15,2021,theCentralBankofKenya(CBK)issuedtheGuidanceonClimate-RelatedRiskManagementtocommercialbanksandmortgagefinancecompanies,enablingbankstointegrateclimate-relatedopportunitiesandrisksintheirgovernancestructure,strategy,andriskmanagementframeworks.Further,itwillguidetheseinstitutionsindisclosingclimate-relatedinformationtotheirstakeholders.Theprinciplesarebinding,withbanks"requiredtocomply".TheBankofMauritius(BoM)publisheddraftGuidelinestosupportFIs'integrationofclimate-relatedandenvironmentalrisksonSeptember30,2021.Thisdraftisscheduledtobefinalisedbytheendof2021andisbinding,withFls"expectedtocomply".2. Emerging:Countriesthathaveimplementedotherregulations/guidanceorengagedwithindustry(forexample,principle-basedregulations,disclosurestandards,stresstests,andbestpracticeguidance).ExamplesofcountriesinthisarchetypeareEgypt,Ghana,Morocco,Nigeria,SouthAfrica,andZimbabwe.Regardingdisclosurestandards,inMarch2021EgypfsFinancialRegulatoryAuthority(FRA)publishedresolutions107/2021and108/2021,whichrequirelistedcompaniesandnon-bankFlstomakeEnvironmental,Social,andGovernance(ESG)disclosuresandTCFDdisclosures,dependingontheirsize(issuedcapital,netequity).Intermsofpublishedguidelines/bestpractices,theCentralBankofEgypt's(CBE)GuidingPrinciplesonSustainableFinancealsoaddressclimaterisks(especiallythefourthprinciple).WhilethesePrinciplesarenon-binding,privatesectorplayersindicatedthatCBEisfollowingupregularly.InMorocco,BankAl-Maghrib(BKAM)issuedDirectiveno5W2021inMarch2021,anonbindingbestpracticeguidancerequiringcreditinstitutionstoidentifyanddisclosepotentialsourcesofclimate-relatedandenvironmentalrisksaswellastoensuretheirmeasurement,management,monitoring,andcontrol.3. Initiating:Countriesthathavenotyetstartedintegratingclimaterisksintotheirregulatory/supervisoryactions(butmayhaveinitiatedworkthroughinternationalornationalcollaboration).ExamplesofcountriesinthisarchetypeareUnionMonetaireOuestAfricaine(UMOA)members,5aswellastheDRC,Tunisia,andRwanda.Authoritiesareconsideringadditionalregulatorymeasurestostrengthenthefinancialindustry'sintegrationofclimaterisk.一Definingriskassessmentmethodologies,suchasclimatestresstests,isconsideredrelevantby82%ofauthoritiesinterviewedbutimplementedinonlyoneofthefeature