Legal & Regulatory News

Public consultation launched on the ECB's draft guide on climate-related and environmental risks

The European Central Bank (ECB) has launched a public consultation on its draft paper, 'Guide on climate-related and environmental risks: Supervisory expectations relating to risk management and disclosure', which is intended to outline the ECB’s understanding of the safe and prudent management of climate-related and environmental risks under the current prudential framework. The draft guide sets out how the ECB expects banks to:

• consider climate-related and environmental risks in their governance and risk management frameworks and when formulating and implementing their business strategy; and
• become more transparent on their exposure to such risks by enhancing their climate-related and environmental disclosures.

The public consultation on the draft guide closes on 25 September 2020.

Click here to access the public consultation.