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Archive » October 2022 » Banks, climate change and governance: supervisory expectations and first evidence

Banks, climate change and governance: supervisory expectations and first evidence

Elisabetta Gualandri, Marzia Nobili
October 2022 - n. 10
Keywords: Sostenibilità, Esg, rischio climatico e ambientale, vigilanza, banche, governance & reporting
Jel codes: G21, G28, M14, O44

Climate and environmental risks are a supervisory priority for 2022-2024. In recent years, not only in the euro area, banking authorities analyse these risks through a composite toolkit (questionnaires, self-assessment, thematic reviews, stress tests, deep-dive inspections) to assess the degree of awareness, resilience and preparation of the financial system for a transition to a low-carbon economy. The first outcomes show mixed results, with a large dispersion: some banks have already started a structured process, many others are in the early stages. An acceleration of the process cannot be separated from a structured governance and reporting process.

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