'Serious prudential risk': How EU banks' climate risk provisions are threatening European financial stability

Cecilia Keating
clock • 6 min read
The European Central Bank building in Frankfurt | Credit: iStock
Image:

The European Central Bank building in Frankfurt | Credit: iStock

European Central Bank has urged banks to step up their climate risk assessments, after major benchmarking exercise reveals sector is poorly prepared for escalating impacts

Climate change presents a toxic cocktail of business model, credit, and operational risks to the banking sector over the short-to-medium term, yet not a single commercial bank in Europe is close to fully...

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