Central banks need more data and better measures on climate – BCBS
Basel Committee may re-evaluate risk framework to account for effects of climate change
The Basel Committee on Banking Supervision, part of the Bank for International Settlements, is calling for more research and data collection on climate risks in the financial sector.
In two reports published on April 14, the committee reviewed the various ways environmental risks may harm financial institutions.
The BCBS indicated it “would be identifying gaps in the current Basel framework, where climate-related financial risks may not be sufficiently addressed”.
However, “traditional risk
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