US Federal Reserve blocks Basel Committee's push to include climate risk in global financial rules.
The US Federal Reserve has blocked a push by the Basel Committee on Banking Supervision to make climate risk a focus of global financial rules, citing concerns about the committee overstepping its purpose and narrow mandate. European central bankers had advocated for requiring lenders to disclose their strategies for meeting green commitments, but the Fed has resisted the proposal, leading to tensions within the committee.
April 03, 2024
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