The European Central Bank (ECB) launched a consultation (to run until 25 September 2020) on its guide to banks on safely and prudently managing climate-related and environmental risks and disclosing such risks under the current prudential framework - including consideration in governance, risk management and business strategy. It also outlines how the ECB expects banks to become more transparent by enhancing their climate-related and environmental disclosures. The guide should serve as a basis for the supervisory dialogue within the boundaries of applicable EU and national law, i.e., under current prudential rules, in accordance with the European Commission’s action plan on financing sustainable growth and the European Banking Authority’s action plan on sustainable finance.

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