Trial now
OUTLOOK

Look Ahead

EURGBP TECHS

Meeting Resistance

COMMODITIES

Oil Slides On Risk-Off, Biden Wants More From China

US TSY OPTIONS

10Y Put Ratio

GBPUSD TECHS

Ebbs Lower into Friday Close

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

European legislators should commit explicitly to introducing a legally binding requirement for banks to have Paris Agreement-compatible climate and environmental risk transition plans, ECB Executive Board member Frank Elderson said in a speech Wednesday.

Having such a legal framework in place will push banks to "go beyond the mere point-in-time measurement of C&E risks," Elderson said, adding that banks "can no longer simply declare their intention to be Paris-compliant by 2050. They must make structural changes to their way of doing business so as to make sure that they actually reach that goal and avoid the build-up of risks for them and the entire financial system."

On Tuesday, Elderson warned on the risks to future growth from not acting on climate change risks.