European banks may struggle to compete with US rivals due to increasing ESG rules.
The European Banking Federation warns that EU lenders may struggle to compete with US rivals due to increasing ESG rules, as the European Central Bank presses banks to capture and report environmental, social, and governance risks. The ECB seeks evidence of banks' preparedness for "emerging risks" like clients' carbon emissions and natural resource costs. EU banks are now facing ESG-adjusted rules, while US counterparts remain free to ignore them.
April 07, 2024
3 Articles