Basel II presents us with an opportunity to enhance risk management systems in our banks, upgrade our supervisory approaches and inculcate market discipline. This can only serve to enhance financial stability. Central Bank recently issued an information memorandum to banks and non-bank financial institutions thereby setting the stage for the implementation of Basel II.
b) environmental reporting and management guidelines: many initiatives regarding environmental information and reporting requirements have been widely supported by this sector including the UNEP Financial Initiative, the Global Reporting Initiative (GRI) and more recently, the environmental management and reporting guidelines by the “Forge Group” in the UK.