Climate risks narrowly concentrated among EU banks, report finds
Only 25 EU banks bear most exposure to physical risks of climate change, ECB-ESRB report says
Just 25 European Union banks have most of the financial exposures to firms with high or growing climate physical risk, according to a new report.
The joint report was published today (July 1) by the European Central Bank and the European Systemic Risk Board. It aims to address two main vulnerabilities in data to better assess the impact climate change can have on the EU’s financial system.
Christine Lagarde, the ECB president and ESRB chair, said the report’s findings “underline the crucial
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