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EU domestic banks need climate-risk plans
By EUobserver
European commercial banks should put together 10-year plans on how to deal with shocks to their bottom lines arising from climate-change related developments, including natural disasters or sudden depreciation of assets, the European Banking Authority in Paris said Wednesday. Investors also needed more transparency on banks' green credentials, as well as on potential risks arising from social-responsibility or corporate governance-linked problems, the European regulator said, Reuters reports.