Basel turns attention to non-climate-related environment risks

Experts warn of over-complicated framework if nature-related risks are added prematurely

biodiversity

Climate risk experts say the Basel Committee on Banking Supervision (BCBS) has taken a tangible first step towards the possible supervision of broader nature-related financial risks, which could include water scarcity, soil erosion and biodiversity loss. But some believe it might be better to prioritise comprehensive analysis of climate change risks before broadening the framework.

The committee is “thinking about whether nature-related risks require a similar or different response”, says a

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