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ARTICLE · 19 JUNE 2025

From TCFD To CRFR: Decoding The Basel Committee's Climate Disclosure Drive

Jones Day
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On June 13, 2025, the Basel Committee on Banking Supervision released a voluntary framework for climate-related financial risk disclosures, marking a significant advancement in global...

United StatesFinance and Banking
Olga Gidalevitz Ph.D.
Olga Gidalevitz Ph.D.
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On June 13, 2025, the Basel Committee on Banking Supervision released a voluntary framework for climate-related financial risk disclosures, marking a significant advancement in global banking transparency. This framework builds upon existing standards such as those from the Task Force on Climate-related Financial Disclosures ("TCFD") and the International Sustainability Standards Board ("ISSB"), introducing more detailed, bank-specific templates aligned with supervisory use.

Structured around the standard pillars of governance, strategy, risk management, and metrics, the framework includes templates like CRFR1, which seeks granular financed emissions data (Scopes 1, 2, and 3) by sector, including maturity profiles and off-balance sheet exposures. This level of detail surpasses the granularity found in existing ISSB and TCFD standards.

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