Global banking regulators agree to prioritise climate risk work

13/5/2025 6:47

Global banking regulators on Monday agreed to intensify efforts to better understand the financial risks posed by climate change amid pushback from the United States.



The oversight body of the world's forum for banking regulators met on Monday to take stock of the committee's work on climate-related financial risks and agreed to prioritise efforts to understand financial risk implications of extreme weather events, the Bank for International Settlements said in statement.



The agreement comes as policy makers and banking regulators on both sides of the Atlantic are debating the extent to which climate change should be embedded into central bank policy, a tussle analysts say is likely to shape central bank decision making around the world.