Environmental factors could be a source of financial risk. It is therefore essential to step up efforts to ensure that risks are properly identified, understood, measured and managed. While banks are making progress, they are facing numerous operational and implementation challenges, many of which are neither originated, nor inherent to the banking industry.
While some will need to be addressed at the level of individual organizations, others will benefit from collaborative approaches. To further strengthen the dialogue within the banking sector and with the European Central Bank (ECB), a high-level Environmental, Social, and Governance Risk Roundtable (C-ESG Risk RT) was set up by the European Banking Federation (EBF) with the participation of 13 European banks. The EBF and ECB are acting in an observing capacity. The Roundtable focuses on climate risks with the objective of discussing current practices, identifying gaps, and promoting pragmatic and practical approaches, including interim solutions amongst the wider banking sector.
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On 26 September, we will be launching the fourth report of the C-ESG Risks RT resulting from the discussions of its Physical Risk workstream. Previous reports can be found here. Join us at the launch event where we will not only present the key findings of the report,
but also share further insight from banking and insurance industry as well as supervisors and scientific community.
We will be discussing not only the challenges to identify the hazards and incorporate the climate physical risk into banks’ risk management but also possible approaches to overcome these challenges. |
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The report will be available on the EBF website on 26 September,
after the launch event. |
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