'Basel III Accord' or simply 'Basel III', often seen in the news, seeks to

'Basel III' is an internationally agreed set of measures developed by the Basel Committee on Banking Supervision in response to the global financial crisis of 2007-09. Its primary objective is to strengthen the regulation, supervision, and risk management within the banking sector. The Accord aims to improve the banking sector's ability to absorb shocks arising from financial and economic stress, reduce the risk of spillover from the financial sector to the real economy, and improve risk management and governance. It does this by increasing bank capital requirements, introducing new liquidity standards, and measures to curb excessive leverage. Options A, C, and D describe other international agreements or goals (biodiversity conservation, greenhouse gas emissions reduction, and ozone-depleting substances replacement), which are unrelated to the Basel Accords' focus on banking regulation.