{"id":65851,"date":"2024-04-11T15:49:17","date_gmt":"2024-04-11T13:49:17","guid":{"rendered":"https:\/\/staging.i4ce.org\/?post_type=publication&#038;p=65851"},"modified":"2024-04-12T11:19:14","modified_gmt":"2024-04-12T09:19:14","slug":"i4ce-recommendations-basel-committee-disclosure-climate-related-risks","status":"publish","type":"publication","link":"https:\/\/staging.i4ce.org\/en\/publication\/i4ce-recommendations-basel-committee-disclosure-climate-related-risks\/","title":{"rendered":"I4CE\u2019s recommendations to the Basel Committee on the disclosure of climate-related risks"},"content":{"rendered":"<p><b><span data-contrast=\"none\">After a first step in 2022, the Basel Committee on Banking supervision is finally moving towards regulation for climate-related risks. Founded in 1974, this forum brings together financial supervisors of the G20 countries and establishes the common standards for financial stability. Two years ago, the Committee published a consultative document on the principles of climate risk management and supervision. It is now taking further action by moving towards regulation. <\/span><\/b><\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.bis.org\/bcbs\/publ\/d560.htm\" target=\"_blank\" rel=\"noopener\"><strong>This public consultation paper<\/strong><\/a><b><span data-contrast=\"none\">, released in November 2023, aims at integrating climate-related financial risks within the disclosure framework (Pillar 3). <\/span><\/b><b><span data-contrast=\"none\">As part of this consultation, <strong>I<span style=\"color: #ff0000;\">4<\/span>CE<\/strong>\u2019s financial experts addressed their recommendations to the Committee in March 2024.<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-contrast=\"none\">The Committee is analysing how a Pillar 3 disclosure framework for climate-related financial risks would further its mandate to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability, and the potential design of such a framework. This work forms part of the Committee&#8217;s holistic approach to address climate-related financial risks to the global banking system, which started to emerge in 2022 with a first consultation paper <a href=\"https:\/\/staging.i4ce.org\/en\/finance-i4ces-recommendations-to-the-basel-committee\/\" target=\"_blank\" rel=\"noopener\">that <strong>I<span style=\"color: #ff0000;\">4<\/span>CE<\/strong> had commented on<\/a>. <\/span><span data-contrast=\"none\">It also published a consultation paper on a Pillar 2 supervision standard in 2023 and a FAQ on existing Pillar 1 standards in 2022.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-contrast=\"none\"><strong>I<span style=\"color: #ff0000;\">4<\/span>CE<\/strong> \u2013 Institute for Climate Economics strongly supports the Basel Committee on Banking Supervision in its initiative to integrate climate-related risks within Pillar 3 disclosure requirements. This evolution is essential to ensure financial stability and proper functioning of the market in a context of intensification of transition and physical climate risks. Now is time <a href=\"https:\/\/staging.i4ce.org\/en\/publication\/limitations-voluntary-climate-commitments-private-financial-actors\/\" target=\"_blank\" rel=\"noopener\">to move from voluntary commitments to regulation<\/a> to secure global resilience. <\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span data-contrast=\"none\"><strong>I<span style=\"color: #ff0000;\">4<\/span>CE<\/strong> welcomes the work that has been done to improve climate-related management and supervisory practices. <strong>I<span style=\"color: #ff0000;\">4<\/span>CE<\/strong> support the current approach of the Basel Committee to gather both quantitative and qualitative information, with a forward-looking vision. On the basis of their understanding of climate-related risks, banks should take action. Their practices should evolve to support the transition of their clients and reduce their risk exposure. This is why <strong>I<span style=\"color: #ff0000;\">4<\/span>CE<\/strong> recommends to the Basel Committee to strengthen its qualitative elements on transition plans<\/span><span data-contrast=\"none\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a first step in 2022, the Basel Committee on Banking supervision is finally moving towards regulation for climate-related risks. Founded in 1974, this forum brings together financial supervisors of the G20 countries and establishes the common standards for financial stability. Two years ago, the Committee published a consultative document on the principles of climate [&hellip;]<\/p>\n","protected":false},"featured_media":65891,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false},"type_publication":[47],"class_list":["post-65851","publication","type-publication","status-publish","has-post-thumbnail","hentry","type_publication-special-issues"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>I4CE\u2019s recommendations to the Basel Committee on the disclosure of climate-related risks - I4CE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.i4ce.org\/en\/publication\/i4ce-recommendations-basel-committee-disclosure-climate-related-risks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"I4CE\u2019s recommendations to the Basel Committee on the disclosure of climate-related risks - I4CE\" \/>\n<meta property=\"og:description\" content=\"After a first step in 2022, the Basel Committee on Banking supervision is finally moving towards regulation for climate-related risks. 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