Circular CSSF 21/773 on the management of climate-related and environmental risks – Claude Wampach (Annual Report 2021)

The CSSF has both prudential and conduct-related mandates with respect to climate-related and environmental risks (CE risks). In this video, Claude Wampach, Director in charge of banking supervision, reviews Circular CSSF 21/773. The latter explains how the treatment of CE risks fits in with the risk categories of the regulation on capital requirements and insists on the role of internal governance in the sound and prudent management of CE risks. Claude Wampach also analyses the challenges that these risks pose to the Luxembourg banking sector.