Launch of Climate Change and Environmental-Related Risks Survey (2024-02-07)

Summary

This is a short notice from the Cayman Islands Monetary Authority (CIMA) announcing that it has launched a survey on climate change and environmental-related risks affecting the financial industry. CIMA states the survey is intended to help it monitor global developments and understand emerging climate-related risks, and that responses will help shape future initiatives and regulatory frameworks in this area.

• Audience: The notice does not identify specific categories of licensee or regulated entity that must respond, describing the audience broadly as 'the industry.'
• Participation: It invites participation via a linked online survey.
• Deadline: Submissions are due by 8 March 2024.
• Nature of notice: The notice does not indicate that participation is mandatory, nor does it describe any penalty for non-participation, so it functions as an informational/invitational notice rather than a binding regulatory requirement.

Key obligations

• Entities wishing to participate must complete the climate change and environmental-related risks survey by the stated deadline of 8 March 2024.

Deadlines

• 8 March 2024: Deadline for submitting responses to CIMA's Climate Change and Environmental-Related Risks Survey