The European Union (EU) should consider mandating that banks adopt strategies in line with a transition to net-zero carbon emissions, said European Central Bank board member Frank Elderson.

“It would be very helpful to have legal requirements for all banks to implement Paris-compatible transition plans, because this would actually enhance the pressure, but also help us as a supervisors to play a role,” he said during a conference organised by the ECB.

Panellists acknowledged the rapid progress