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What's happening: The European Central Bank said last week that it will start conducting"in-depth" assessments of how bank balance sheets account for climate risks in 2022.Banks will, for example, be expected to disclose how flooding and storms could affect the value of their real estate portfolios and customer supply chains, as well as take into account losses that could arise if businesses adjust their operations to be less carbon intensive.
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Funny how destroying the Earth is expensive
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