All articles tagged with #climate related financial risks
The Basel Committee on Banking Supervision has released a public consultation paper on a Pillar 3 disclosure framework for climate-related financial risks, as part of its efforts to address these risks to the global banking system and enhance financial stability. The Committee is analyzing how such a framework would strengthen the regulation, supervision, and practices of banks worldwide.
The Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency have jointly finalized principles for the safe and sound management of climate-related financial risks for large financial institutions with $100 billion or more in total assets. The principles address both physical and transition risks associated with climate change and provide guidance on governance, policies, risk management, data analysis, and addressing climate-related risks in traditional risk areas. The principles do not prohibit or discourage financial institutions from providing services to any specific class or type of customers, as long as they comply with applicable laws and regulations.