ECB climate stress test reveals uneven risks across eurozone
First step in ‘climate roadmap’ assesses 1,600 banks and over four million firms
Firms and banks will be “severely affected” without action on climate change, and some regions of Europe will be much worse affected than others, the European Central Bank has found.
The ECB published the results of its “economy-wide” climate stress test today (September 22). The test revealed pockets of risk in certain countries, with the unevenness largely driven by physical risks such as the increased prevalence of natural disasters.
Firms in the north, centre and east of the eurozone are
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