ECB official warns climate crisis poses growing threat to ‘core financial stability’
ECB executive board member Frank Elderson warned Wednesday that climate change and ecosystem collapse pose growing threats to financial stability. Elderson said the central bank is stepping up monitoring of financial risks from destruction of ecosystem services—nature-related processes supporting human activity. He emphasized that assessing nature-related risks to banks' credit exposure requires more work than evaluating single extreme weather events.
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Summary by OZbrief Editorial · The Guardian Australia – Business · Source
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Published 01 Aug 2026, 04:00 UTC · Updated 01 Aug 2026, 04:20 UTC
Summary by OZbrief Editorial. Original report: The Guardian Australia – Business. Editorial policy · Corrections