In remarks at the Colombian Institute of Corporate Governance event "Integrated ESG, Driving sustainable investment", the Financial Superintendence of Colombia, through its Director of Research, Innovation and Development Francisco Duque, urged financial institutions to give greater attention to environmental, social and climate risk management. He said boards should keep these risks central to decision-making because they can materially affect companies' future business prospects. Duque said corporate governance now has to operate in a more complex business environment, with new risks affecting corporate strategies and constant regulatory change. He added that boards should ensure existing governance structures work in an integrated way to manage risks, understand emerging risks and use that information in decisions, oversee senior management, strengthen board capabilities, diversity and support committees, and exercise critical and independent oversight of management's approach.
Superintendencia Financiera de Colombia2026-06-03
Financial Superintendence of Colombia urges boards to strengthen governance of environmental social and climate risks
The Financial Superintendence of Colombia, through its Director of Research, Innovation and Development, urged financial institutions to strengthen environmental, social and climate risk management and keep these risks central to board decision-making given their potential impact on future business prospects. Francisco Duque stressed that boards must ensure governance structures operate in an integrated way to manage emerging risks, oversee senior management, and reinforce board capabilities, diversity and independent oversight.