ECB penalises European banks for not meeting climate risk deadline
European real estate market remains a concern but banks are in a “robust” position, Jochnick says
The European Central Bank (ECB) fined certain eurozone banks for not complying with a climate risk measurement deadline, ECB official Kerstin af Jochnick said on June 5.
While 80% of banks have already concluded that climate risks will impact their strategy, some did not meet the initial deadline of March 2023, said Jochnick, a member of the ECB’s supervisory board.
The ECB is ready to issue further warnings and fines if banks do not make progress, she added. The central bank’s efforts will be
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