Basel Committee consults on principles for the effective management and supervision of climate-related financial risks
Nov 30, 2021
The Basel Committee on Banking Supervision has issued a public consultation on principles for the effective management and supervision of climate-related financial risks. Comments are requested by February 16, 2022.
The Committee is taking a holistic approach to addressing climate-related financial risks to the global banking system. This includes the assessment and consideration of disclosure, supervisory and regulatory measures.
Through this public consultation, the Committee seeks to promote a principles-based approach to improving both banks' risk management and supervisors' practices related to climate-related financial risks. The principles seek to achieve a balance in providing a common baseline for internationally active banks and supervisors, while retaining sufficient flexibility given the evolving practices in this area.
Review the press release and consultative document.