FIN.

Basel Committee consults on principles for climate-related financial risks

The Basel Committee on Banking Supervision is consulting on principles for the effective management and supervision of climate-related financial risks. The consultation, which follows a series of analytical reports published earlier this year, aims to promote a principles-based approach to improve banks’ risk management and supervisory practices associated with climate-related financial risks.

The Committee’s holistic approach to addressing climate-related financial risks within the global banking system includes assessment of disclosure, supervisory and regulatory measures.

The deadline for comments is 16 February 2022.

Emma Bond