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Principles for the effective management and supervision of climate-related financial risks
- Publication Date: November 16, 2021
- Language: English
- Geographic Area: Universal
- Issuing Entity: Basel Committee
- Application Scope: Banking organizations, Supervisory authorities
Regulatory Extracts from this
In this consultative document, the Committee examines the extent to which climate-related financial risks can be addressed within the Basel Framework, identifying potential gaps in the current framework and considering possible measures to address any identified gaps. Specifically, with regard to scenario analysis, including stress testing, the principles are formulated with a view towards application to large, internationally active banks and to supervisory and other relevant financial authorities in Basel Committee member jurisdictions. However, smaller banks and authorities in all jurisdictions can benefit from a structured consideration of the potential impact of climate-related financial risks.
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