COP28 Uniqus – A Curtain Raiser
Both COP27 and COP28 share a marked similarity, as both are hosted in the Middle East and North Africa (MENA) region, resulting in increased cooperation across the region’s broader climate ambitions.
Regulatory Measures by RBI
The RBI Governor’s Statement dated October 6, 2023, stated that certain components of personal loans were recording very high growth. He further noted that the RBI closely monitored such loans for signs of incipient stress. Banks and NBFCs were advised to strengthen their internal surveillance mechanisms, address the build-up of risks, if any, and institute suitable safeguards in their interest.
California Climate Disclosure Legislation
In 2023, California passed two climate disclosure and financial reporting laws, SB 253 and SB 261, which will require firms of certain sizes that conduct business in the state to assess and report on climate-related considerations, including greenhouse gas (GHG) emissions figures and material financial risks related to climate. ESG and climate-related disclosures have come into focus for companies and policymakers as stakeholders increasingly recognize climate-related impacts on businesses.
