Response to consultation on draft Guidelines on the management of ESG risks
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Question 16: Do you have comments on section 5.7 – consideration of ESG risks in policies and procedures for market, liquidity and funding, operational, reputational and concentration risks?
Operational risk:
Is it possible and required to indicate the ESG factor (flagging) for each operational loss event? In other words, can and should operational risk be 100% mapped to ESG factors, similarly as to:
1) operational risk categories (7 Basel categories - section 5.7 point 66),
2) operational risk factors (people, processes, systems, external events)?