On Monday 18 December, the European Central Bank (ECB) and the European Systemic Risk Board (ESRB) published a report, drawn up with the support of the European Commission’s Joint Research Centre (JRC), on the impact of climate change on the European Union’s financial system.
The report stresses that the impact of climate-related risks on the financial stability of the real economy and the financial system depends on the interaction between exposures and financial vulnerability.
In this...