On the 4th of April 2023, the Task Force on Regulation and Supervision, which operates under the aegis of the Bank of Mauritius Climate Change Centre, held its fourth meeting. The Bank of Mauritius provided an overview on ongoing and future initiatives in the climate-related risk management space, which comprises further addressing data gaps by mapping out key data metrics and linking up with data measurement agencies. In addition, the Bank of Mauritius shared insights on the way forward with regard to its climate-related Scenario Analysis Programme. The Programme is expected to inspire and inform the stress-testing exercises of individual financial institutions.
The meeting also provided an opportunity to hold an outreach event which was open to all banks and non-bank deposit taking institutions, and the aim of which is to foster capacity building. In this regard, the Ministry of Environment, Solid Waste Management and Climate Change made a presentation on climate change impacts and projections for Mauritius, and opportunities for private sector investments in climate adaptation and mitigation. An international bank operating in Mauritius equally conducted a sharing of experience session on its journey on the implementation of climate-related risk management initiatives in its local and group operations.