Archive

Essential to resist fossil fuel lobby to water down ETS, says ECB's Elderson

It is "essential" that the EU preserves the credibility of its Emissions Trading System (ETS) and resists a fossil fuel "lobby to water [it] down", a board member of the European Central Bank said.

Banks underestimating climate risks from disorderly transition, ECB warns

Eurozone banks are "very likely" underestimating the risks they are exposed to because of climate change, amid increased likelihood of a disorderly transition, a senior figure at the European Central Bank (ECB) warned.

Middle East crisis shows need to decarbonise, says ECB's Elderson

ECB assessing impact of ecosystem loss on bank credit portfolio

The European Central Bank (ECB) is to assess how banks' credit portfolios could be impacted by ecosystem loss, says a board member.

People Moves, 20 February: Ostrum, AP4, CalPERS, Zurich ... and more

ECB stepping up physical risk work as it readies 'penalty' for climate failures

From Michael Hurley in Frankfurt

ECB ready to ramp up climate supervision in face of political headwinds, Elderson says

The European Central Bank (ECB) will ramp up supervision of banks' climate and nature risk management by including sustainability-related aspects across a range of its conventional tests, according to a senior central banker.

Nine banks in ECB's crosshairs for fines after failing to meet sustainability expectations

Nine "outlier" banks missed a deadline to satisfy minimum expectations on management of climate and other environmental risks and have been told they face potential fines from the European Central Bank (ECB).

ECB to stay the course on climate and nature, regardless of politics

The European Central Bank (ECB) has vowed to retain its focus on climate and nature risks, "irrespective of shifts in the macroeconomic tides and no matter what direction the political winds may blow".

ECB could switch from sovereign to supranational bonds amid climate concerns, says Elderson

A lack of a "clear and reliable framework" for comparing sovereign bonds with Paris goals should prompt the European Central Bank (ECB) to consider buying bonds from EU supranational issuers, says one board member.