ECB/ESRB report shows climate shocks can put financial stability at risk
  • Tuesday, 13 September 2022

ECB/ESRB report shows climate shocks can put financial stability at risk

The European Central Bank (ECB) and the European Systemic Risk Board (ESRB) published a joint report on the potential effects of climate shocks on the European Financial system.

The report shows that climate risks can spread rapidly and can harm insurers, asset managers, and other financial institutions.

Additionally, the report gives evidence on the systemic nature of climate risks and supplies a foundation for a macroprudential policy response.