Subscribe to myFT Daily Digest to join a news program on climate change.

The ECB carried out simulation work at more than 2 900 euro zone banks to find out how they would deal with the effects of climate change, including natural disasters and the introduction of emission reduction strategies.

The ECB concluded this after calculating the potential future impact of climate change on 4 million European businesses and 1,600 1,600 banks in the next 30 years.

But, for only four countries, the increase would be nearly double that.

The ECB has detected a large concentrate of risks in some of the largest banks as being among the most polluted firms.

These risks are disproportionately distributed throughout Europe, with northern regions more vulnerable to flooding and southern countries more vulnerable to heat stress and wildfires.

Central Europe

Central Europe is the central region of Europe. Central Europe includes contiguous territories that are sometimes also considered parts of Western Europe, Southern Europe and Eastern Europe. (wikipedia)

Southern Europe

Southern Europe is the southern subregion of Europe. Definitions of Southern Europe, also known as Mediterranean Europe, include countries and regions such as: Albania, Andorra, (wikipedia)

European Central Bank

The European Central Bank is the central bank of the Eurozone, a monetary union of 19 EU member states which employ the euro. Established by the Treaty of Amsterdam, (wikipedia)


The euro is the official currency of 19 of the 27 member states of the European Union. This group of states is known as the eurozone or euro area and includes about 343 million citizens as of 2019. (wikipedia)

READ MORE:  David Attenborough urges "greater public involvement" to tackle climate change