Basel Committee launches principles for climate supervision
Guidance for banks and supervisors designed to create “common baseline” for tackling risks
The Basel Committee on Banking Supervision finalised its principles for managing and supervising climate-related financial risks today (June 15).
The 18 principles – 12 for banks and six for supervisors – are designed to create a “common baseline” for the global management of climate risks, while retaining the flexibility to fit individual circumstances.
“The principles seek to accommodate a diverse range of banking systems and are intended to be applied on a proportionate basis depending on
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