ECB warns banks of lawsuits in case of violation of climate obligations
Management European Central Bank (ECB) has warned other banks that they face legal action if they fail to comply with climate change commitments. This is reported Reuters.
The ECB noted that compliance with the obligations stipulated in the Paris climate agreement, if necessary, can be ensured by legal methods. Banks were also urged to make sure that the information about their stability is true.
“If banks do not achieve their stated goals or do not follow the climate strategy they have communicated, then they are exposing themselves to litigation and reputational risks,” said ECB’s Anneli Tuominen.
Formerly Greenpeace and other environmentalists wanted to apply to court for European Commission for the decision to consider gas and atom safe sources of energy for the planet. Ecologists said the authorities European Union thus violating their own climate laws and encouraging investment in fossil fuels.