I hope that many more institutions will add their signatures, too. The German Savings Banks Association should support its members in upholding this commitment as well as systematically and successfully managing the associated risks. However, not only savings banks, but also other banks as well as central banks have been paying greater attention to climate and sustainability risks for some time now.
With regard to the climate, there are two very different types of risk involved here. First, there are the risks arising from the direct, physical repercussions of climate change – from the banks’ perspective, these could be risks associated with real estate financing in areas facing a greater threat from flooding.