Basel Climate Disclosure Plan Opposed by Fed Pushed Into 2025

The Basel Committee on Banking Supervision is pushing back a deadline for climate-risk disclosure by banks, following opposition against earlier proposals by the US Federal Reserve.

The committee, which brings together representatives from regulators and central banks around the world to coordinate rules and oversight of banks, said in a statement on Wednesday that it expects to finalize its so-called Pillar 3 disclosure proposal in the first half of 2025. That’s a change from an earlier plan to publish a revised or final framework in the second half of this year.

While the Committee has said climate change and its ...