The high-level principle-based approach adopted by the Basel Committee fails to take into account the specific features of climate-related financial risks, argues Julia Symon of Finance Watch.
The influential Basel Committee on Banking Supervision have published their finalised set of principles for managing and supervising climate-related financial risks, their first explicit climate-related guidance.
The Basel Committee on Banking Supervision has agreed on principles for managing and supervising climate-related financial risks, providing an international baseline for banking regulators’ approach to climate change.
A consultation exercise run by the Basel Committee on Banking Supervision has revealed divergent views within the finance sector over how regulators should address climate-related risks.
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