REGISTER

The Basel Committee on Banking Supervision has issued a set of climate risk guidelines to help financial regulators across the world assess bank preparedness in a co-ordinated fashion.

The Basel paper sets out 18 principles covering corporate governance, internal controls, risk assessment, management and reporting. They were designed so they can be adapted to a diverse range of banking systems depending on the size, complexity and risk profile of the bank or banking sector.

In a statement, the standard setter says: "The Committee expects implementation of the principles as soon as possible and will monitor progress across member jurisdictions to promote a common understanding of supervisory expectations and support the development and harmonisation of strong practices across jurisdictions.

"The Committee has adopted a holistic approach to assessing, measuring and mitigating climate-related financial risks that considers potential supervisory, regulatory and disclosure-related measures for the banking system. The Committee will provide an update on its work across these dimensions in due course."

CyberBanner

Banner

CyberBanner

CyberBanner

CyberBanner

Log in

Please Login to download this file

Username *
Password *
Remember Me

CyberBanner

CyberBanner

CyberBanner

CyberBanner

CyberBanner

CyberBanner

Go to top