The ECB, which earlier this year voiced displeasure over finance industry efforts to respond to climate risks, has sent out confidential documents to banks stating they’ll need to provide data on how their balance sheets might fare through 2050. (File pic shows the ECB HQ.)
BRUSSELS: The European Central Bank (ECB) is stepping up pressure on lenders to prepare for stress tests next year that will show just how vulnerable the industry is to climate change, according to sources.
The ECB, which earlier this year voiced displeasure over finance industry efforts to respond to climate risks, has sent out confidential documents to banks stating they’ll need to provide data on how their balance sheets might fare through 2050.
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