European Banks Unprepared for Growing ESG Disclosures, UBS Says
- Lenders will face increasing demand to detail their exposures
- ESG risks may influence some capital requirements from 2022
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Europe’s banks are unprepared to meet increasing demands to spell out their exposure to climate change and other social and governance issues, according to UBS Group AG.
With banks in the European Union facing mandatory disclosures on environmental, social and governance risks starting next year, these issues could start to influence capital requirements, UBS analysts led by Lorraine Quoirez said in a report.