World Energy Outlook report shows banks at odds with IEA over net-zero plans
Leading banks have resisted agreeing to end financing of all new fossil fuel exploration this year, despite an IEA warning that a ban is necessary to reach net zero by 2050.
BoJ showcases climate loans scheme at TCFD summit
The Bank of Japan is among a growing number of central banks which are deploying interventionist policies to align bank lending with the low-carbon transition, rather than relying solely on disclosures to effect market discipline.
BoE’s Ramsden: climate rules won’t prompt rush to shadow banks
The Bank of England’s deputy governor has expressed optimism that tightening climate rules on banks will not lead to increased financial flows towards unregulated activities and institutions. …
ECB releases results of economy-wide climate stress test
The ECB has released results of an economy-wide climate stress test examining climate impacts on four million firms and 1,600 euro area banks. It finds the costs of climate change far outweigh the costs of a low-carbon transition.
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