GBIC Comments on the Basel Committee on Banking Supervision (BCBS) consultation

On 29 November 2023, the Basel Committee on Banking Supervision (BCBS) published a draft consultation on a Pillar 3 disclosure framework for climate-related financial risks. The German Banking Industry Committee (GBIC) generally welcomes the BCBS’s initiative to create an international level playing field for disclosures on climate-related financial risks. However, the BCBS should not add to the extensive and highly complex disclosure frameworks already in place in the EU under the Capital Requirements Regulation (CRR) and the Corporate Sustainability Reporting Directive (CSRD). Further details can be found in GBIC’s comments.