Furthermore, the revisions to the Capital Requirements Directive currently under discussion by the EU co-legislators further reaffirm the ECB’s mandate in this area by broadening the supervisory toolkit to address environmental, social and governance risks, and by explicitly requiring banks to have concrete plans to address C&E risks arising from misalignment with EU climate targets.
Australia). In the east Asian region outside Japan, the local currency bond markets collectively are thought to be about $ trillion in terms of total stock outstanding, up from around $ billion a decade or so ago. That is a sizeable sum, but of course it is dispersed around a number of countries in what are essentially a series of local markets.