Bank of Israel increases banks’ ESG reporting requirements
Reform aims to bring higher transparency standards to Israeli financial system
The Bank of Israel published new requirements on December 5 for banks to disclose risks related to environmental, social and governance (ESG) factors.
The updated regulations intend to bring ESG reporting among Israeli banks to the level of “best practices implemented by leading banks worldwide”, said banks’ supervisor Yair Avidan.
From now on, the BoI requires banks to note in their annual reports any ESG aspects of their targets and to include the main principles they will follow to achieve
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