Europe needs supervisory standards for climate risks – Lautenschläger

Sabine Lautenschläger

European policy-makers need to give financial supervisors a common set of standards for assessing banks’ approach to climate and environmental risks, Sabine Lautenschläger said.

“We cannot afford to wait until we have a perfect understanding of all these risks to take action”, the European Central Bank executive board member said on April 17. “Climate change will not adapt to our research schedules.”

Policy-makers could speed up the process of setting new standards by working in a modular way

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