They should be proportionate to the institution's business model, the nature of its operations and the complexity of its products, services, activities and processes; adequate to the magnitude and materiality of its exposures to social, environmental and climate-related risks; and consider corresponding impacts and business opportunities.

They should follow a uniform design across the financial system to ensure comparability, while differences in business models, operations, product and service complexity and risk exposures are addressed through separate internal instruments.

They should be coordinated with the risk management framework, but the institution may assess social, environmental and climate-related risks in isolation, without addressing their interactions with other risks incurred by the institution.

They must appoint a director who will approve and review the policy and assume the board of directors' responsibilities for adherence, integration and timely correction, irrespective of whether a board has been constituted at the institution.

They should primarily provide a framework for public communication and philanthropic initiatives, while social, environmental and climate-related considerations affecting business, activities, processes and stakeholder relationships remain within other institutional policies.