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ECB warns fossil-fuel-exposed banks they risk €21bn in annual losses by 2029

Environmental Finance

The European Central Bank (ECB) has delivered its starkest warning to-date of the damage a delayed transition to a net zero economy would inflict on the financial system.

Banking 49
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EU Lawmakers Agree to Ramp Emissions Reduction Requirements for Road, Ag and Buildings Sectors to 40% by 2030

ESG Today

Flexibilities that can be used by member states include banking and borrowing emissions reductions between years, and trading emissions reduction allocations among the states. of allocations until 2025, and up to 5% from 2026 – 2030.

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MEPs Under Pressure to Raise ETS Ambition

Chris Hall

Last week’s compromise proposal, with its staggered removals, would have resulted in more emissions in the short-term, noted Samar Pratt, President of Advisory Solutions at Exiger, a provider of risk management SaaS solutions to corporations, government agencies and banks. . “It

Banking 98
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Why I Champion Women's Financial Equality (And You Should, Too)

3BL Media

A recent paper published by the Federal Reserve Bank of San Francisco found that labor market disparities by gender and race cost the U.S. trillion by 2029 unless we join forces to reverse the trend. Federal Reserve Bank of San Francisco | $3 Trillion a Year: Potential Economic Gains from Equity (frbsf.org).

Banking 130
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Net zero transition – the latest signals of change: May 5, 2023

We Mean Business Coalition

A new report from the Asian Development Bank has found that the benefits of transitioning to net zero greenhouse gas emissions for countries in developing Asia would outweigh the costs fivefold, if effective policies are implemented.