Basel Committee mulls mandatory climate disclosures

The Bank for International Settlements, Basel
The Bank for International Settlements, Basel
Photo: Ulrich Roth

The Basel Committee on Banking Supervision is considering how to set mandatory global standards for the disclosure of climate risk as part of the Basel framework.

A consultation published on November 29 identifies ways climate risk could be included in Pillar 3 of the Basel framework, which covers disclosures.

“The committee recognises that the accuracy, consistency and quality of climate-related data is still evolving, but at the same time, disclosure requirements will accelerate the

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