[3] Regarding physical risks, around 30% of the credit exposures of euro area banks are to businesses with high or increasing exposure to at least one source of physical risk. [4]  In this context, central banks and supervisors are progressively looking into playing an active role in the debate and working with banks to prepare for and manage climate risks.
At previous opportunities I have discussed in detail the initiatives that the ECB has already taken to enhance collateral availability for its own operations1, so that I do not need to repeat these today.