The BCBS will issue a consultation paper on the proposed framework by the end of this year. This is a welcome step given that banks’ own shareholders are becoming increasingly demanding in this field, especially in banks that have publicly committed to achieving net-zero targets.
In the context of the international regulatory advancements I have just outlined, I would like to reassure you that the ECB’s commitment to follow a risk-based approach to C&E risks will remain strong in the future too. Together with you, the internationally active banks, we can ensure that the same level of ambition in tackling C&E risks is kept around the world.