ECB: 90% of EU banks stray from Paris Agreement goals.

January 23, 2024
1 min read

TLDR: The European Central Bank (ECB) has found that 90% of EU banks are not aligned with the goals set out in the Paris Agreement. This means that the majority of European banks are not taking adequate action to address the risks and opportunities associated with climate change. The ECB also highlights the increased risk of litigation and reputational damage for banks that have made public commitments to decarbonise by 2050. The findings of the ECB underscore the urgent need for banks to align their business strategies with the goals of the Paris Agreement and to improve transparency and disclosure around their climate-related risks.

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