© Reuters. FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski
FRANKFURT (Reuters) – The euro zone’s biggest banks still fail to meet the European Central Bank’s climate change risk disclosure expectations and must now stop dragging their feet, the ECB said on Monday in an updated assessment of compliance.
“Although there have been improvements since the ECB’s first assessment in late 2020, no bank fully meets the supervisory expectations,” the bank said in a statement.
“Regulation of climate and environmental risk disclosures will become stricter in the coming years, with market participants and the public increasingly expecting more information,” it said. “Banks therefore need to adjust their practices without delay.”
Euro zone banks must end delay in climate risk disclosures: ECB
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