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Banks' climate 'analysis paralysis' shameful
21 March 2022The lack of readiness of banks to assess their exposure to climate risks is both alarming and shameful, according to a prominent North American asset manager.
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ECB will align policies with Paris 'quickly' despite 'green' inflation risk
18 March 2022The European Central Bank (ECB) "cannot simply ignore" the inflation risk posed by the green transition, a senior representative has warned, but it will still align its policies to the Paris Climate Agreement "as quickly as possible".
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ECB slams banks' climate disclosures as 'white noise'
14 March 2022EU banks' climate risk disclosures are "a lot of white noise and no real substance," a leading executive at the European Central Bank (ECB) has said, as its latest analysis revealed no bank satisfies the ECB's basic rules.
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ECB's Elderson: We aren't calling for fossil fuel divestment
22 February 2022Banks should not view the European Central Bank (ECB)'s calls for improved management of climate risk as an entreaty to make a blanket divestment from the most heavily polluting assets, a top executive at the central bank said.
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ECB launches climate stress test with 'indirect impact on capital requirements'
27 January 2022The results of a 2022 climate stress test of Europe's banks could indirectly impact capital requirements, the European Central Bank (ECB) has said, as it formally launched the exercise.
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ECB introduces climate into assessment of bank managers
10 December 2021The European Central Bank (ECB) has for the first time introduced a climate and broader environmental criterion in an update to its questionnaire for banks to help assess which prospective managers are 'fit and proper'.
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EU banks slow to develop climate stress test capacity - ECB
22 November 2021No European bank is meeting its regulator's expectations on climate and environmental risk management, with "worrying" lack of progress in areas including stress testing, the European Central Bank (ECB) said, just months before it runs the biggest climate stress test to date.
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'Logical' to expect climate-related capital requirements - ECB's Elderson
11 November 2021It is "logical" to expect that banks will be required to hold more capital in reserve to cover climate-related risks, a senior official at the European Central Bank has said, in the strongest indication yet that the central bank will adapt prudential requirements to cover climate risks.
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Make EU green bond standard mandatory, says ECB
09 November 2021The European Central Bank (ECB) has recommended that the EU makes its green bond standard mandatory within five years, and warned that its current provisions for transition green bonds are "not sufficient".
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ECB could tilt bond purchases to Paris-aligned firms, says Schnabel
23 August 2021A senior European Central Bank (ECB) member said the bank could buy more bonds from firms committed to the Paris Agreement goals...