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European central bankers have been advocating for the Basel Committee on Banking Supervision to agree on requiring lenders to disclose their strategies for meeting green commitments. In closed-door meetings, US officials have cited their narrow mandate and concerns that the Basel Committee was overstepping its purpose.
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“Policies to address climate change are the business of elected officials and those agencies that they have charged with this responsibility,” Powell said Wednesday during an event hosted by Stanford University. “The Fed has received no such charge.” He didn’t mention the Basel Committee in his remarks.
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