Latest news with #Donnery
Yahoo
29-04-2025
- Business
- Yahoo
ECB's Donnery warns against watering down banking rules
FRANKFURT (Reuters) -European Central Bank supervisor Sharon Donnery said on Tuesday she saw scope for making banking regulation simpler, but warned against watering it down. The ECB has launched a task force, chaired by Vice President Luis de Guindos, that will look for ways of simplifying bank rules. Donnery is the third central bank representative this week to stress this should not amount to deregulation. "We must never sacrifice the resilience that was so hard-won in the aftermath of the global financial crisis – neither in the name of alleged competitiveness, nor under the banner of simplification," she said. "This is a red line. And it must remain one." De Guindos struck a similar tone in the European Parliament on Monday and Finnish ECB governor Olli Rehn, also a member of the task force, said banks should maintain "sturdy" capital buffers. Donnery stressed the regulatory framework was already less strict for "small and non-complex" banks although she saw scope for "more proportionality". "There may be scope for more proportionality in the European regulatory framework," she said. "But let me reiterate: rules should be as simple as they can be, but no simpler." Donnery also said the regulation should be clearer about which investors bear losses when a bank goes under. "Market participants' ability to understand the consequences of the regulatory regime – for instance with regard to loss-sharing arrangements and supervisory restrictions when a bank's solvency declines – can affect their willingness to invest," she said. "And even in normal times, monitoring compliance with multiple regulatory metrics and understanding all their potential interactions can pose operational costs and challenges for banks and supervisors alike," Donnery added. Sign in to access your portfolio
Reuters
29-04-2025
- Business
- Reuters
ECB's Donnery warns against watering down banking rules
FRANKFURT, April 29 (Reuters) - European Central Bank supervisor Sharon Donnery said on Tuesday she saw scope for making banking regulation simpler, but warned against watering it down. The ECB has launched a task force, chaired by Vice President Luis de Guindos, that will look for ways of simplifying bank rules. Donnery is the third central bank representative this week to stress this should not amount to deregulation. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. "We must never sacrifice the resilience that was so hard-won in the aftermath of the global financial crisis – neither in the name of alleged competitiveness, nor under the banner of simplification," she said. "This is a red line. And it must remain one." De Guindos struck a similar tone in the European Parliament on Monday and Finnish ECB governor Olli Rehn, also a member of the task force, said banks should maintain "sturdy" capital buffers. Donnery stressed the regulatory framework was already less strict for "small and non-complex" banks although she saw scope for "more proportionality". "There may be scope for more proportionality in the European regulatory framework," she said. "But let me reiterate: rules should be as simple as they can be, but no simpler." Donnery also said the regulation should be clearer about which investors bear losses when a bank goes under. "Market participants' ability to understand the consequences of the regulatory regime – for instance with regard to loss-sharing arrangements and supervisory restrictions when a bank's solvency declines – can affect their willingness to invest," she said. "And even in normal times, monitoring compliance with multiple regulatory metrics and understanding all their potential interactions can pose operational costs and challenges for banks and supervisors alike," Donnery added.
RTÉ News
22-04-2025
- Business
- RTÉ News
FRS Co-Op launches sustainability strategy
Social enterprise co-operative FRS Co-op has launched a new sustainability strategy committing to cut carbon emissions by 20% and landfill waste by half by 2030. In its first Environment, Social Governance (ESG) report, the farmer owned co-operative is also aiming to develop a biodiversity strategy with a focus on agriculture, increase their community engagement and continue to provide support to the farming and wider communities in which they operate. Founded in 1980, the group has expanded over the years and currently employs more than 2,000 people and has an annual turnover of about €100m. Among the specific commitments made by FRS Co-Op are a 20% reduction in Scope 1 and 2 carbon emissions by 2030, working towards a net zero target by 2050 and reducing greenhouse gas emissions from the company's vehicle fleet by 25% by 2030. It is also aiming for a 50% cut in landfill waste by 2030, evolving to a target of zero waste by 2050 and installing solar renewable energy panels in its headquarters and other large offices by 2026. Speaking on RTÉ's Morning Ireland, the Group CEO of FRS Co-Op, Colin Donnery, said its internal team has developed the strategy which he believes can accomplish its goals. "By 2030 we think we will achieve that, obviously the bigger goal is to reach net zero by 2050 which will ultimately depend on outside forces such as technology and so on," he said. "Where we see ourselves making a big difference is through both our own supply chains and onto our customers. We've replaced all our fencing materials with sustainable fencing materials to improve our fencing products," he noted. "We run some of the largest government programmes in biodiversity, we manage the national soil sampling programme and have sampled over 13,000 farms measuring carbon to support farmers, " the CEO said. "We also just started on the National Deer management strategy, which is I suppose, an important biodiversity programme to reduce the impact the increase in deer is having on our biodiversity across the country," he added. The commitment by members to take part in the scheme is voluntary and Mr Donnery said they will support farmers to reach their own targets. He said it has been a challenging couple of years for farmers and they will continue to support them further.
