Basel Committee Resists US Pressure to Downplay Climate Risk
US efforts to rein in the Basel Committee's focus on climate risks were met with a rare show of resistance this week, according to people familiar with the matter.
At a closed-door meeting that took place on Monday, the heads of the central banks and regulators that make up the Basel Committee on Banking Supervision rejected a proposal to dissolve the taskforce overseeing climate work, said the people, who asked not to be identified disclosing confidential conversations.
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