Basel Committee launches principles for climate supervision

The Bank for International Settlements, Basel
Photo: Ulrich Roth

The Basel Committee on Banking Supervision (BCBS) is proposing a principles-based approach to climate supervision, as central banks look to ensure banks are ready for a transition to net zero emissions.

The committee studied its existing framework and concluded its “core principles” on banking supervision and the supervisory review process are “sufficiently broad and flexible” to encompass climate risks. But it said supervisors could benefit from further guidance, which it offers in a

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