ECB stands firm on fining banks over climate risks
Board member says lenders could pay daily penalties for not addressing environmental concerns
An executive board member of the European Central Bank (ECB) has reiterated that banks could face daily fines for not complying with the required standards for managing climate- and nature-related risks.
On October 4, ECB board member Frank Elderson said at a symposium in Amsterdam that a small number of banks had still not carried out the required assessments of the impact of climate- and nature-related risks on their portfolios.
Elderson, who also chairs the Network for Greening the Financial
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