Bank of Mexico creates environmental and social risk department

Central bank’s attitude to environmental risk might put it at odds with government, says commentator

Bank of Mexico

The Bank of Mexico has created a new division charged with managing environmental and social risks, Mexican media reports. 

A provision creating the department was added to the central bank’s internal regulatory code, and the amended code was published in the official gazette on October 15. 

The department will “develop relevant metrics to evaluate and monitor physical and transition risks”. It will also develop a framework for sustainable credit and asset management and encourage the

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