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Source:
The Guardian
ECB warns climate risk to finance
A senior ECB official warned that the climate crisis and the destruction of ecosystem services pose growing risks to global financial stability. Wildfires in Europe highlight the economic costs of climate-related disasters, prompting the ECB to increase monitoring of the impacts on banks. The bank plans to publish analysis on how ecosystem degradation could lead to credit losses, emphasizing the importance of addressing climate and nature risks for economic stability.
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