ECB releases bank climate stress test methodology
The ECB has published the methodology of its upcoming climate risk stress test of Eurosystem banks, requiring lenders to assess their exposure to climate risks and evaluate their response to common transition scenarios.
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.
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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