Banking’s Climate Conundrum
Harvard Corporate Governance
MAY 24, 2022
Around the world, financial regulators have begun implementing policies to address climate risks among banks, insurers, and other financial institutions. My paper, Banking’s Climate Conundrum , argues that the United States’ sluggishness in responding to climate-related financial risk is problematic because the U.S. banking system is uniquely susceptible to climate change. The international Basel III capital accord established new global capital standards for banks in 2010.
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