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The European Central Bank (ECB) has intensified its efforts to ensure that lenders adequately address climate change risks. The ECB has issued new decisions and warned banks of additional fines if they fail to manage climate and nature-related risks effectively. Frank Elderson, Vice-Chair of the ECB Supervisory Board, highlighted that while many banks have shown progress, there are still shortcomings that need to be addressed. Sabine Mauderer, First Deputy Governor of the Bundesbank, noted that climate risk will complicate central bankers’ jobs, emphasizing the need for financial institutions to integrate climate risk into their business models and risk assessments.
EO-derived climate risk data is becoming mainstream in the real-estate industry. It is hard to think of a future when any big infrastructure or property-related decisions are made without looking into the flood, wildfire, heat and sea level risks, supported by long-term satellite…
Climate risk ‘complicates’ everyone’s jobs: “How climate risk will complicate central bankers’ jobs” Impact-weight all of your risk and business models. All of them. Do it now. Right now. https://t.co/LrB6jpELPB
ECB warns banks of yet more fines over climate risk management https://t.co/0Rkukmg1QC https://t.co/AOZE22q7zO