Only 3per cent of the euro zone's top banks disclose all basic information about their exposure to climate-related risk, the European Central Bank said on Friday.27 Nov 2020 07:05PMFRANKFURT: Only 3per cent of the euro zone's top banks disclose all basic information about their exposure to climate-related risk, the European Central Bank said on Friday.
"As of yet, virtually none of the institutions in the scope of the assessment would meet a minimum level of disclosures," the ECB said in a report."Institutions do not yet comprehensively disclose their risk profile and ... significant efforts are needed to promote transparency in the financial markets on the climate-related and environmental risks institutions are exposed to," it added.
The ECB was also unveiling new guidelines on the matter, with a view to reviewing the sector's progress and take measures in 2022.
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