On Feb. 20, TAI FSC proposed to incorporate ESG information.
TAI FSC, TAI Justice proposed to amend articles 5, 19 and 41 of Regulations governing implementation of internal control and auditing system of insurance enterprises.
Follows TAI FSC Aug. 2023 issued roadmap to aligning IFRS ESG standards, #178458.
Also follows TAI FSC issued action plan for sustainable development, see #167744.
Amendments
Insurers shall include management of ESG information in internal control operations.
Include the management of ESG information in inspections and internal audit report.
The amendments are expected to be effective from Jan. 14, 2025.
Effectiveness
Consultation is open for public opinions which shall be submitted by Apr. 22, 2024.
May 2024 Amendments Published
On May 7, 2024, TAI FSC, TAI Justice issued order finalizing changes to the regulations.
The amendments will be effective from Jan. 1, 2025.