ECB Says Just 15% of Banks Disclose Financed CO2 Emissions
- Banks told to take action with progress expected by year-end
- ECB to ultimately reflect climate risk in capital requirements
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The European Central Bank is pushing lenders to disclose more information on the climate and environmental risks they face after finding that just 15% publish data on the emissions they finance.
The ECB has told banks “to take decisive action,” saying on Monday that only around half of institutions release relevant performance or risk data. The watchdog expects to see “major progress” by year-end, according to a top official.