ECB Warns Euro Banks: Fines for Lagging on Climate

ECB warns euro banks on falling behind climate goals, threatens fines

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. REUTERS/Heiko Becker/File Photo Purchase Licensing Rights

In an interview, a senior European Central Bank (ECB) supervisor said some euro banks have failed to meet the ECB’s climate-related goals and may face fines.

The ECB has handed banks a list of deadlines for factoring in risks relating to climate change, from floods and droughts to a transition to new energy sources, into the way they do business, Reuters reported.

ECB warns euro banks on falling behind climate goals, threatens fines

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