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European regulators concluded that the EU"s goal to cut carbon emissions by 55% by 2030 would have a limited impact on the financial system, with potential initial losses of 3.9% rising to 20.7% under adverse macroeconomic conditions. The stress test involved 110 banks, 2,331 insurers, and 629 pension funds, emphasizing the need for a coordinated policy approach to integrate climate risks into financial management.
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EU climate action stress test shows limited financial system impact
12:56 19.11.2024
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