ECB Amends Bank Capital Reviews to Reflect Extreme Weather Risks
The European Central Bank is embedding climate risk into regular reviews of how well banks can absorb losses, marking a new chapter in its supervisory approach.
The intention is to 'incorporate, more decisively and in a more business-as-usual way, climate change and nature-related risks' in the ECB's methodology for its so-called Supervisory Review and Evaluation Process, Patrick Amis, director general for specialized institutions and less significant institutions, said in an interview.
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