ECB Says Banks Making Significant Progress on Managing Climate, Nature Risks

How central banks can manage climate risk

Climate change is no longer a distant concern – it is a present reality, already impacting the economy and people’s daily lives. In response, Banco Central do Brasil has taken strategic steps to ensure that both its operations and the broader financial system are equipped to manage the risks and seize the opportunities of this new era.

ECB Says Banks Making Significant Progress on Managing Climate, Nature Risks

Banks in the EU have made “significant strides” in addressing and managing climate and nature-related risks, according to European Central Bank (ECB) Executive Board Member and Supervisory Board Vice-Chair Frank Elderson, with major increases in advanced practices in place to identify, monitor these risks made by banks in just the past few years. While noting the progress, however, Elderson also said that more work needs to be done by European b…