EU Watchdogs Urge Tougher Environmental Disclosure Rules

Law360, London (December 19, 2019, 3:20 PM GMT) -- Europe's top financial regulators on Thursday warned banks and insurers that they need to improve environmental and social disclosure compliance as part of a longer-term strategy to prepare for a warming climate and more frequent weather catastrophes.

The European Supervisory Authorities — a group of regulators made up of the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority — detailed how firms should to crack down on short-term thinking in the sector as part of the move towards a more sustainable financial system.

The reports, which were requested by the European Commission — the European...

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