The European Central Bank is warning that many of the financial institutions it oversees are moving too slowly to shield themselves and Europe’s banking system from the impact of climate change, and it is setting new deadlines to meet those requirements.
The ECB said some progress had been made but that a review of 186 banks published Wednesday showed change was uneven and that “the glass remains half full,” top ECB official Frank Elderson said in a blog post on the central bank’s website.
