Filtered by: Climate risk, Financial institutions
In March 2021, the European Banking Authority (EBA) was mandated through Article 501c of the Capital Requirements Regulation (CRR) to “assess […] whether a dedicated prudential treatment of exposures related to assets or activities associated substantially with environmental and/or social objectives would be justified”. More simply put, the EBA was asked to investigate whether the current prudential framework properly captures environmental and social risks. In response, the EBA published a Discussion Paper (DP) [1] in May 2022 to collect input from stakeholders such as academia and banking professionals.
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The European Central Bank (ECB) recently completed another important step in the supervisory process to assess the management of climate-related and environmental (C&E) risks by European banks. On 2 November, they published the results of their thematic review on C&E risks performed earlier this year.
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