28 April 2021 - APRA publishes Chair Wayne Byres’ speech on climate, risk culture and cyber risk

In “Piloting a way forward”, Mr Byres outlines how APRA is once again broadening its supervisory focus, as the economy recovers, with a particular emphasis on the financial risks associated with climate change, cyber, and governance, risk culture, remuneration and accountability (GCRA).

“Of the three areas covered, cyber presents arguably the most difficult prudential threat: unlike GCRA or climate risk, it’s driven by malicious and adaptive adversaries who are intent on causing damage. Cyclones and bushfires can be devastating, but they’re not doing it on purpose.”