EU should demand banks set climate transition plans – Elderson

Frank Elderson
Photo: Netherlands Bank

The European Union (EU) should consider mandating that banks adopt strategies in line with a transition to net-zero carbon emissions, said European Central Bank board member Frank Elderson.

“It would be very helpful to have legal requirements for all banks to implement Paris-compatible transition plans, because this would actually enhance the pressure, but also help us as a supervisors to play a role,” he said during a conference organised by the ECB.

Panellists acknowledged the rapid progress

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