The European Banking Authority (EBA) presented, on Friday 6 December, an action plan detailing its approach to sustainable finance, following the European Parliament/EU Council agreement on taxonomy in this area (see EUROPE B12384A2 and B12385A9).
Climate change has "led to an increasing relevance of environmental, social and governance (ESG) factors for financial markets", the EBA said in a statement.
The European authority encourages financial institutions to incorporate these factors into...