State Bank Staff College hold seminar on ‘Climate Change Risk Management: Indian & Global Perspectives’

State Bank Staff College hold seminar on ‘Climate Change Risk Management: Indian & Global Perspectives’

Climate Change Risk Experts from MunichRe, S&P Global, RBI, Banks, NBFCs, Consultants and other Climate risk Practitioners attended the event

FPJ Web DeskUpdated: Friday, March 03, 2023, 04:45 PM IST
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State Bank Staff College hold seminar on ‘Climate Change Risk Management: Indian & Global Perspectives’ |

State Bank Staff College, the Apex Training Institute of State Bank of India along with Risk Management Department of SBI hosted a Seminar on "Climate Change Risk Management: Indian & Global Perspectives" on March 1, 2023, in Hyderabad.

Climate Change Risk Experts from MunichRe, S&P Global, RBI, Banks, NBFCs, Consultants and other Climate risk Practitioners attended the event and shared their valuable insights in building a robust Climate Risk Management culture in India.

The event opened with the Welcome Address of Indranil Bhanja, Director, State Bank Staff College, followed by the opening remarks of Ashwini Kumar Tewari, MD (R, C & SARG), State Bank of India. Sharing his thoughts, Tewari emphasised the role of banks and bankers in climate risk management. He urged the regulator for an appropriate taxonomy with global standards to enable efficient reporting and control of climate risk and to build a credible database on climate finance and pricing the climate risk appropriately. Tewari also emphasised on the banks need to educate their employees in understanding the transition risk and capacity building through in-house training, seminars, discussions, etc.

Sunil Nair, Chief General Manager (Department of Regulation), Reserve Bank of India put forth the regulator’s perspective on Climate Change Risk Management and emphasised that the RBI is committed to integrating climate-related risks into financial stability monitoring. RBI had joined the Network for Greening the Financial System (NGFS) in April 2021, a group of Central Banks and Supervisors willing, on a voluntary basis, to share best practises and contribute to the development of Environmental and Climate Risk Management. There were other speakers from BCG, S&P Global and Munich Re, who spoke about physical risks identification, measurement and mitigation through appropriate models and insurance solutions.

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