Basel Committee launches principles for climate supervision

Bank for International Settlements, Basel
Bank for International Settlements, Basel
Photo: BIS

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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