Without going into much detail, the second touches upon the merits of advanced countries making cash transfers to the emerging ones in exchange for achieving certain climate-related targets. 18.
Among the numerous initiatives undertaken at European level, regarding supervision, the European Central Bank published a ‘Guide on climate-related and environmental risks’ in November, which sets out the expectations concerning: (a) the methods for integrating climate-related and environmental risk into the business strategy and model, corporate governance processes and the risk management framework of the significant banks within the Single Supervisory Mechanism (SSM); and (b) the information to be publicly disclosed.