ECB estimates trillions of euros at risk from climate change
Central bank publishes sustainable finance, carbon emissions and physical risk indicators
The European Central Bank and eurozone national central banks today (January 24) published a preliminary set of indicators to analyse how climate change affects the financial sector.
Exposures due to physical risk amount to as much as €6 trillion ($6.5 trillion) for water stress, the ECB estimated, while wildfires could cost the eurozone a further €5 trillion.
The ECB made the commitment to publish indicators as part of its action plan to include climate change in its monetary policy strategy
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