1、HOW CLIMATE RISKS ARE SHAPING THE LANDSCAPE FOR ASIA-PACIFIC FINANCIAL INSTITUTIONS1AcknowledgmentsBank of China(Hong Kong)(“BOCHK”)and S&P Global Sustainable1 would like to express their gratitude to the Hong Kong Monetary Authority,International Financial Corporation,and other organizations whose

2、reviewers provided valuable guidance.We would also like to thank the following people from S&P Global Sustainable1 for their contributions to this report:Jennifer Laidlaw,Matt MacFarland,Lindsey Hall,Koji Omachi,Rong Yu and Adrian Leung.2ContentsForeword-Bank of China(Hong Kong)3Foreword-S&P Global

3、Sustainable1 4About the Report 5 Overview 5 Explanation of Data 5Executive Summary 6 Key Findings 71.Introduction 82.Net-Zero Commitments&Scope 3 Emissions 92.1 Net-zero pledges are the first step for financial institutions in Asia-Pacific 92.2 Asia-Pacific financial institutions&financed emissions

4、113.Asia-Pacific Financial Institutions&Climate Risk 143.1 Climate strategy and materiality 143.2.Adaptation planning to meet physical climate risks 174.Asia-Pacific Financial Institutions&Scenario Analysis 194.1 Physical risk scenario analysis 194.2 Transition risk scenario analysis 215.Asia-Pacifi

5、c Financial Institutions&Biodiversity Loss 236.Case Study:Bank of China(Hong Kong)297.Conclusion 32Glossary 333Foreword-Bank of China(Hong Kong)In response to the accelerating impacts of climate change,financial institutions are positioned to address both the risks and opportunities it presents.By t

6、urning climate-related challenges into opportunities,banks and other financial institutions can play a pivotal role in mitigating climate risks and driving innovation and economic growth through financing the low-carbon transition and implementing sustainable practices.As one of the cornerstone memb