In November 2020, the ECB Banking Supervision published a report outlining its expectations on banks for how to address climate-related and environmental risks. Once published, the ECB Banking Supervision asked banks to assess progress against these expectations. The resulting take-away was that if progress continues at this pace, then many banks will not meet expectations anytime soon. So, what are these expectations and what are some of the challenges preventing banks from adequately integrating climate related risks?
