Sustainable finance is expected to be a crucial factor in the post Covid-19 economic recovery period and regulators are encouraging banks to actively embed climate-related risks in their business operations and risk management frameworks.

  • Mazars has analysed how 30 of the largest banks worldwide have been responding to climate-related financial risks
  • The Covid-19 outbreak brings into sharp relief the need to address sustainability risks and improve societal resilience. In its Renewed Sustainable Finance Strategy, which is open for consultation until 15 July 2020, the European Commission sends a clear message: the pandemic has not postponed European long-term sustainability objectives
  • The EU’s sustainable finance agenda will in fact be a crucial factor in the economic recovery in response to Covid-19 and the financial sector will play a key part in mobilising the necessary capital.

Against this background, we have analysed how 30 of the largest banks worldwide have been handling climate-related financial risks by consulting their most recently publicly-disclosed information. The objective of this study is to assess the extent to which banks have integrated climate change in the areas of governance, risk management, scenario analysis and disclosures, and their level of readiness for recent and upcoming climate-related supervisory expectations.

 

'Credit & Financial Institutions' Related News Articles

01
What to expect: BOV, Malta Chamber and Saxo Bank debate on the future of businesses
Bank of Valletta

by Bank of Valletta

29th September 2020

Blue Sky or Eye of the Storm? A Free webinar for Businesses by BOV, Malta Chamber and Saxo Bank
Bank of Valletta

by Bank of Valletta

14th September 2020

Internal Governance considerations for credit institutions: the EBA report on the 2019 supervisory convergence plan
Ganado Advocates

by Ganado Advocates

17th July 2020