Contention at Basel: Climate Disclosure Initiative Delayed Until 2025 Amid Federal Reserve Pushback

In a significant development for climate finance, the Basel Committee on Banking Supervision has decided to push the implementation of its proposed climate disclosure framework into 2025. This decision comes in response to substantial opposition from the U.S. Federal Reserve, which has raised concerns regarding the feasibility and timing of the initiative aimed at enhancing transparency on climate-related financial risks for banks and other financial institutions.

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