Banks are failing to hit climate targets, ECB study finds
A report by the European Central Bank (ECB) has found that banks are partially or completely missing climate risk goals.
Civil Society Seminar Series: The ECB’s role in tackling climate change
Executive Board member Frank Elderson and the head of ECB’s climate change centre, Irene Heemskerk, recently met with civil society organisations to discuss how the ECB integrates climate and environmental considerations into its work.
60% of banks don’t have climate stress test frameworks, a lot still needs to be done: ECB’s Elderson
Frank Elderson, executive board member at the European Cenral Bank, discusses its latest supervisory climate stress tests.
ECB in focus as central banks tackle climate change
Various central banks across the globe are adjusting their policies to address the risks and effects of climate change. Volker Wieland, chair of monetary economics at the Institute for Monetary and Financial Stability, discusses whether such a move is effective.
ECB Banking Supervision | 2022 Climate risk stress test
Climate change and banking supervision.
Climate change affects the safety of our banking sector through physical risks, such as extreme weather events, as well as transition risks, such as uncertainties relating to the shift towards a low-carbon economy.
In our role as a supervisor of European banks, we work to ensure that banks detect, manage, and disclose risks properly, including those stemming from climate change. This helps banks to become more resilient to climate and transition shocks, which in turn contributes to the safety and soundness of the euro area banking sector and financial system as a whole.
https://www.bankingsupervision.europa.eu/about/climate/html/index.en.html
