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European Banks Unprepared for Growing ESG Disclosures, UBS Says

Jan. 18, 2021, 4:01 PM

Europe’s banks are unprepared to meet increasing demands to spell out their exposure to climate change and other social and governance issues, according to UBS Group AG.

With banks in the European Union facing mandatory disclosures on environmental, social and governance risks starting next year, these issues could start to influence capital requirements, UBS analysts led by Lorraine Quoirez said in a report.

Climate change has moved up the agenda for bankers and their regulators in recent years. The pivot toward a low-carbon economy will have a significant effect on companies’ profits and the value of their assets, with ...