Framework for the voluntary disclosure of climate-related financial risks
Following on from their consultation (see below), the Basel Committee on Banking Supervision have published, in June 2025, a framework for the disclosure of climate-related financial risks. This framework will be voluntary, with jurisdictions considering whether to implement it domestically.
Consultation
In November 2023, the Basel Committee on Banking Supervision published a consultation seeking the views of stakeholders on its proposals for a Pillar 3 disclosure framework for climate-related financial risks. It aims to complement the International Sustainability Standards Board (ISSB) framework and provide a common disclosure baseline for internationally active banks.
In parallel, the Committee will continue to coordinate with other international bodies and jurisdictional authorities that are developing their approaches to disclosure requirements for climate-related financial risks in order to ensure interoperability of future frameworks.
With the assistance of AREF's Public Policy Committee, AREF submitted a response to the consultation in March 2024.
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