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14 June 20224 minute read

Raising the standard: How banks can improve the quality of climate-risk financial reporting

“Climate change poses a material risk to global financial stability and financial services firms must act to stem the tide as the material costs of climate change continue to rise.”

Mark Dwyer


We polled 700 senior decisions makers within banks across the UK, France, Germany, Italy and the Netherlands about their plans for improving disclosures in 2022 and beyond, the challenges they face in getting to where they need to be, and whether or not climate-related issues hold priority within their businesses.

The resulting data reveals nearly nine in ten senior bankers (88%) agree that diverting capital away from environmental polluters is critical to tackling the climate crisis, with 92% of senior bankers agreeing that hitting firms with fee, margin, or other relevant financial penalties is the best way to deal with clients whose climate risk profile causes significant exposure for a relevant financial institution.

Key findings