meta_id 2995608

On March 23, 2026, the Superintendencia de Banca, Seguros y AFP (SBS), Peru's financial superintendent, published guidance on managing sustainability-related risks for supervised financial institutions, insurance companies, and private pension fund administrators. The guidance document, titled "Guía sobre la gestión de riesgos derivados de la sostenibilidad para las empresas del sistema financiero, de seguros y privado de pensiones" (Guide on Managing Risks Derived from Sustainability for Financial System, Insurance and Private Pension Companies), aims to orient supervised entities in progressively incorporating sustainability criteria into their governance, strategy, risk management, and information disclosure practices, aligned with international best practices. The SBS emphasises that the guidance is non-mandatory and does not create immediate supervisory requirements. Instead, it adopts a principles-based approach allowing supervised entities to adopt or adapt recommendations flexibly according to their size, business model, maturity level, and strategic priorities within the existing regulatory framework. This proportional approach enables entities to adapt to an evolving environment while progressively strengthening their capacity to manage sustainability-related risks. The SBS positions this publication as an innovative approach to sustainability regulation, providing anticipatory guidance on appropriate practices before implementing mandatory provisions. The guidance serves as a reference instrument facilitating gradual and orderly preparation for future regulatory requirements, supporting the SBS's Climate Change and Sustainable Finance Roadmap and informing the progressive development of the institution's regulatory and supervisory approach to sustainability matters.