Net zero banks playing catch-up in ECB climate review

Banks that aim to align to Paris Agreement still fall short on climate disclosures

Cimate failinfs

European banks that belong to the Glasgow Financial Alliance for Net Zero (GFANZ) are failing to meet basic supervisory expectations for climate and environmental risk disclosures, the European Central Bank has concluded.

However, banks affiliated with the initiative say it will play a constructive role in helping to manage climate risk.

The ECB included a special focus on GFANZ member banks in a preliminary assessment of preparedness for upcoming Pillar III requirements.

Overall, European

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