"LONDON - Global regulators published a detailed checklist for banks on Wednesday to assess how climate change affects all aspects of their business, including pay and capital, as economies set carbon reduction targets.
International banks like Goldman Sachs, Deutsche Bank and HSBC will be expected to examine whether they are quantifying risks from climate change properly despite sometimes patchy data and time horizons that go well beyond traditional risk assessments and remuneration packages.
The guidance is the latest effort by the Basel Committee, made up of regulators from the United States, Europe, Japan, China and elsewhere, to review how their rulebook covers climate change in a sector at the forefront of efforts to transition to a net-zero economy."
