The implementation of climate-risk disclosure requirements for banks by the Basel Committee on Banking Supervision has been delayed until the first half of 2025.

This decision was made due to opposition from the US Federal Reserve, who disagreed with earlier proposals aimed at increasing transparency regarding climate-related financial risks.

The committee had originally planned to release a revised or final framework by the end of this year, but the new timeline reflects ongoing discussions among global regulators and central banks as they work towards establishing a unified approach to climate-risk disclosures under the Pillar 3 framework.

The complexities of aligning regulatory expectations across jurisdictions are highlighted in the committee's statement.