‘Basel III Accord’ or simply ‘Basel III’, often seen in the news, seeks to:

Basel III is a global regulatory framework issued by the Basel Committee on Banking Supervision (BCBS) after the 2008 financial crisis. Its aim is to make banks more resilient by raising the quantity and quality of capital, especially Common Equity Tier 1, and by introducing a leverage ratio, a Liquidity Coverage Ratio, a Net Stable Funding Ratio and a countercyclical capital buffer. That is exactly what option B describes.

• A is wrong. National strategies for conservation and sustainable use of biodiversity come under the Convention on Biological Diversity (1992), which requires National Biodiversity Strategies and Action Plans.
• C is wrong. Cutting greenhouse gas emissions is the domain of the UNFCCC, the Kyoto Protocol and the Paris Agreement, not banking regulation.
• D is wrong. Phasing out CFCs and transferring technology is the job of the Montreal Protocol and its Multilateral Fund.

Mains link: Basel norms matter for GS-III on banking reforms, NPAs and recapitalisation of public sector banks. RBI implemented Basel III capital norms in India in phases from 2013, and the timelines have since been revised, so check the latest status if you use this in an answer.

Trap: the word 'Basel' pulls people toward the Basel Convention on hazardous waste (1989), and the Montreal and Kyoto options then look plausible to anyone who has half-remembered environmental treaties.