Climate risks are one of the newer of the many risks that OSFI requires federally regulated institutions to comply with. Have they broken down the cost of compliance for the climate risks specifically among all the other risks? I do not know. I'm not sure if the committee is going to invite OSFI as part of this study, but that would be a question you could pose to them to see if they have parsed it out. There's a whole range of risks that institutions have to manage under OSFI guidelines, climate being one of the newer ones.
On May 9th, 2024. See this statement in context.