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EU banks vulnerable to climate-change risks
By EUobserver
EU banks have done little to adapt to new environmental, social, and governance-related (ESG) risks, according to US asset-management firm BlackRock in a report tasked by the European Commission, Reuters reports. Implementation of new ESG measures "needs to be accelerated", it said. Awareness of ESG risks in lending policy and stress testing was sometimes "superficially" applied, "limited ... in scope", and "at an early stage", it added.