Legal & Regulatory News

​European Central Bank publishes report on supervisory assessment of banks' climate-related and environmental risk disclosures

On 14 March 2022, the European Central Bank (ECB) published a report on the supervisory assessment of banks' climate-related and environmental (C&E) risks disclosures. The report focussed on the risk disclosure practices of banks in the single supervisory mechanism which are classed as significant institutions.

The report found that banks have made significant progress on the disclosure of C&E risks, but concluded that most still need to significantly increase efforts to disclose exposures to C&E risks transparently and to improve their disclosure practices. Further to this, the report noted deficiencies in how banks disclose key metrics and in the reasoning behind their disclosures.

The ECB is set to review banks' C&E disclosures again at the end of 2022.

Click here to access the ECB report.