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ECB assessment concludes that banks need to accelerate efforts to tackle climate risks

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Published on: 22 November 2021

Published by LNB News

LNB News 22/11/2021

Document Information

Issue Date: 22 November 2021

Published Date: 22 November 2021

Jurisdiction(s): United Kingdom

Article summary

The European Central Bank (ECB) has published its first ever large-scale assessment of how European banks are adjusting their practices to manage climate and environmental (C&E) risks, in line with the expectations set out in the November 2020 ECB guide on C&E risks. The ECB’s assessment concludes that banks have taken initial steps towards incorporating climate-related risks, but none of them are close to meeting all supervisory expectations.

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