New Basel III climate disclosures proposed for global banks
Running until February 29, 2024, the consultation will help the Basel Committee determine which elements should be mandatory and which should be subject to national discretion.
New disclosure rules could require global banks to report on their climate strategies and financed emissions as early as January 2026.
The Basel Committee, a watchdog formed by 63 central banks to increase global financial stability, has launched a consultation on the potential to add climate-related risk disclosures to its Basel III framework.
