Archive

ECB: Banks are 'on the horizon' of climate litigation surge

A senior European Central Bank (ECB) official has warned banks to "get up to speed" with rising climate-related litigation risk as he expects regulation and recent legal successes to result in an escalation of cases against banks.

Allianz: ECB talks up sustainable bond greenium

Climate-related policies and pronouncements from the European Central Bank (ECB) has generated a "persistent positive effect" on the 'greenium' for European sustainable bonds, according to research from Allianz.

Elderson: ECB willing to impose climate-related penalties

A senior official at the European Central Bank (ECB) said it is willing to issue periodic penalties or impose bank-specific capital add-ons for banks that do not demonstrate "full compliance with all our expectations" on climate and environmental risk.

30% of insurers' investments highly dependent on nature, EIOPA says

About 30% of Eurozone insurers' investments are highly dependent on nature, according to analysis of about €2.3 trillion ($2.5 trillion) of insurers' investments in corporate bonds and equity.

ECB to include climate in capital requirements guide

Nature loss poses 'existential' risks for financial system, says ECB's Elderson

The loss of nature due to intensive land use, climate change and pollution poses "existential" risks to the global economy and financial system, a prominent central banker has warned.

'Reasonable to expect' banks will meet ECB climate expectations, says Elderson

It is "reasonable to expect" Eurozone banks will, by 2024, close the gap between their currently inadequate disclosures on climate-related risks and the expectations of the European Central Bank (ECB), according to a senior central banker.

ECB and EIOPA call for EU wide natural disaster insurance scheme

The creation of a pan-EU public scheme for "less frequent, large-scale disasters" could complement existing insurance offerings and contribute to closing the climate insurance protection gap, two major European supervisors have said.

ECB warns banks are still failing on climate disclosures, and threatens action

Eurozone banks have been given a stern warning by the European Central Bank (ECB) that it is ready to act if they do not improve "insufficient" disclosures on climate ahead of rules coming into force this year.

ECB says climate 'tilt' cut carbon intensity of bond purchases by 65%

The weighted average carbon intensity (WACI) of corporate bond purchases by the European Central Bank (ECB) was slashed by about 65%, following the introduction of a 'climate tilt' methodology to prioritise 'greener' issuers