ECB penalises European banks for not meeting climate risk deadline

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The European Central Bank (ECB) fined certain eurozone banks for not complying with a climate risk measurement deadline, ECB official Kerstin af Jochnick said on June 5.

While 80% of banks have already concluded that climate risks will impact their strategy, some did not meet the initial deadline of March 2023, said Jochnick, a member of the ECB’s supervisory board. 

The ECB is ready to issue further warnings and fines if banks do not make progress, she added. The central bank’s efforts will be

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