Our observations on the ECB thematic review on C&E risks in 2022
In November 2020, the ECB published its guide on climate-related and environmental risks (C&E risks) specifying 13 expectations on how the institutions it supervises must integrate C&E risks into their business model and strategy, governance, and risk management.
Only a few months later, in spring 2021, the ECB conducted its first "thematic review", in which it asked the institutions to complete two questionnaires. The answers showed that the progress of many institutions did not yet meet the ECB’s expectations. In fact, no institution was considered to be even close to compliant with the expectations. In spring 2022, the ECB conducted a second thematic review on C&E risks. The PwC network supported several institutions in this exercise. My colleagues Klaus Böcker and Ariane Rupp from PwC Germany share their observations from related client projects in this article: Where have the institutions made the most progress? Where are the biggest challenges for the institutions?
Read the full article in the free registration area of PwC Plus: Link to PwC Plus.