In a world of ever-evolving risks, the challenges climate change poses have moved into the spotlight. The risks we face are not just to the environment and humankind, but also to financial stability. Both climate events and efforts to mitigate their risks can impact financial market conditions and long-term economic prosperity.
Given its mission to safeguard financial stability and provide
support to euro area countries in financial distress, we explore why
integrating climate risks into the European Stability Mechanism (ESM)
risk monitoring framework is imperative and how the institution is
navigating this complex issue. (...)
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