EU watchdog tells banks to have a 10-year climate plan
Banks in the European Union must have a 10-year plan about their way of dealing with environmental, social and governance (ESG) risks to their bottom line, the bloc’s banking watchdog said. Climate-friendly investment gets increasing money. Regulators want investors to have a reliable snapshot of a company’s green credentials. European Banking Authority gave a report…
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BoE sees no evidence yet to support climate capital charges on banks
The Bank of England Deputy Governor Sam Woods said that BoE does not have evidence yet to force banks to hold more capital to cover risks from climate change. The BoE is for the first-time stress testing how banks and insurers would cope with meeting the United Kingdom’s net zero climate goals. But capital requirements will not be affected…