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BREAKING
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street
Gaza Civil Defense spokesman: Claims that the Israeli occupation has withdrawn from areas in the neighborhoods of al-Zaytoun, al-Tuffah, and al-Shujaiya are false
Hamas: The two delegations stressed that any negotiations must lead to the achievement of our people's goals and aspirations, foremost among which is ending the war and the complete withdrawal of enemy forces
Hamas: A delegation from the Hamas leadership, led by the head of the leadership council, Mohammad Darwish, met with an Islamic Jihad delegation, headed by its Secretary-General, Ziyad al-Nakhalah

BCBS Urges Climate Rules for Banks

  • By Al Mayadeen
  • Source: Agencies
  • 16 Nov 2021 23:33
2 Min Read

The committee of banking supervisory authorities established by the G10 urges banks to take climate change into perspective when making business decisions.

  • x
  • Extinction Rebellion activists protest on the Bank junction outside the Bank of America (Credit: Getty images)
    Extinction Rebellion activists protest on the Bank junction outside the Bank of America (Credit: Getty Images)

The top international banking supervisory authority, the Basel Committee on Banking Supervision (BCBS), said on Tuesday that lenders should take climate risks into consideration when making business, offering a suggestion list of 18 "principles" guiding banks and national supervisors.

Banks should "consider the potential impacts of climate-related risk drivers on their individual business models and assess the financial materiality of these risks," the BCBS said in a consultation document.

The Group of Ten body (G10) is charged with creating rules for the banking system to ensure its stability.

The BCBS offered banks and supervisors up for public comment before making binding proposals after developing its list of principles, with 12 of them aimed at banks themselves and six at supervisors.

The body started its list by calling for lenders to "develop and implement a sound process for understanding and assessing the potential impact of climate-related risk drivers on their businesses and on the environments in which they operate."

The Bank for International Settlements (BIS) also said climate-related responsibilities should be clearly assigned to individual board members or committees and "throughout the organizational structure" of financial firms, urging lenders to collect data on businesses to enlighten their decisions.

"Banks should assess whether climate-related financial risks could cause net cash outflows or depletion of liquidity buffers, assuming both business-as-usual and stressed conditions," the BCBS concluded, giving respondents until February 16, 2022, to give feedback to the committee.

  • BSBC
  • Climate change
  • Climate crisis
  • G10

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