Green Goals and Red Lines: How 90% of European Banks Miss the Mark
In a revealing study by the European Central Bank, a staggering 90% of European banks were found to have loan portfolios not aligned with EU climate goals, signifying profound transition risks. The assessment, covering key carbon-intensive sectors, underscores an urgent need for strategic realignment to mitigate financial and environmental risks.
“While directly serving their customers, companies should indirectly serve the interests of society by taking responsibility for the holistic impact of their activities. Its simply a more broad view of value creation. This is what ESG is all about.”
Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth