Banks’ climate-related financial risks – voluntary disclosure framework from the BCBS

The Basel Committee for Banking Supervision has finally published the conclusion of its November 2023 consultation, a voluntary disclosure framework “for jurisdictions to consider”. One suspects that both the Basel Committee’s sway and the focus on climate-related risks are somewhat reduced since the original consultation, but as we had responded to it at the time (here), we thought it worth reporting where it ended up. They have generally ignored the concerns we raised, and we see little value in the quantitative reporting template for mortgage book energy efficiency they propose (but do let Peter know if you disagree).