ECB's Villeroy calls for mandatory disclosure of climate risks

FILE PHOTO: Bank of France Governor Francois Villeroy de Galhau delivers a speech during the annual meeting of Small and Medium-sized Enterprises leaders at the Bank of France in Paris, France, October 22, 2021. REUTERS/Sarah Meyssonnier

PARIS (Reuters) – ECB policymaker Francois Villeroy de Galhau said he hoped it would become compulsory for all corporates everywhere to disclose climate-related risks but that for this to be effective there would need to be internationally harmonised frameworks.

Villeroy, who is the governor of France’s central bank, said it was imperative policymakers were able to better understand and forecast the macroeconomic impacts of climate developments.

“Each year that passes without sufficient emission reductions makes the issue more severe, and the solutions more radical,” he told a climate finance summit in Paris on Tuesday.

Source: Read Full Article