ECB: Europe's banks 'failing to consider climate risk'
By Thomas HelmSeptember 12, 2023
Most European banks are “insufficiently considering” climate-related risk in their credit assessments, according to a member of the European Central Bank’s executive board.
Current economic models may underestimate the financial impact of climate change, says Isabel Schnabel, one of six members on the ECB’s board. Typically “calibrated ...
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