Salem Radio Network News Monday, November 29, 2021

Business

Euro zone banks not meeting ECB’s climate risk goals

FRANKFURT (Reuters) – No big euro zone lender meets the European Central Bank’s expectations on climate and environmental risk, the ECB said on Monday, calling for a quicker adaption of its supervisory expectations.

“Banks have taken initial steps towards incorporating climate-related risks, but none is close to meeting all supervisory expectations,” the ECB said in a statement.

“Only one-third of banks have plans in place that are at least broadly adequate, and half won’t have completed implementation of their plans by the end of 2022,” it added.

(Reporting by Balazs Koranyi; Editing by Gareth Jones)

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