Europe's landmark test of banks' resilience to climate risk is softer than expected
7 Jul 2022
EUROPE'S landmark test of banks’ resilience to global warming was far softer than many lenders had expected, according to people familiar with the matter.
Even the toughest hypothetical scenarios in the European Central Bank’s climate stress test didn’t result in losses that would make a meaningful dent in capital buffers, said officials at six big euro-area banks that took part. The ECB is due to publish aggregate results of the test on July 8.
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EU climate chief lobbied Germany to back weakened 2040 goal
Today 12:00pm
The European Commission’s climate chief successfully lobbied Germany’s coalition government to endorse a controversial measure that weakens the EU’s next climate target.
Brussels to propose ‘pragmatic’ 90% climate target for 2040
Fri 30 May 2025
The European Commission will tell countries to cut 90 percent of their planet-warming emissions by 2040, but offer “flexibilities” to make the goal politically palatable, according to EU climate chief Teresa Ribera.
Glacier collapse buries most of Swiss village
Fri 30 May 2025
The Swiss village of Blatten has been partially destroyed after a huge chunk of glacier crashed down into the valley.
Europe’s next climate target may already have been agreed in Berlin
Wed 28 May 2025
Germany’s new coalition has adopted a climate stance shaped by talks with the EU’s top climate official, signalling where the bloc may land on a likely upcoming 2040 emissions target.
EU countries agree to exempt most firms from carbon border tariff
Wed 28 May 2025
European Union countries backed plans on Tuesday to scale back the bloc's carbon border levy to cover just 10% of the companies currently covered by the scheme, on the grounds that these firms account for nearly all of the emissions involved.
Dutch environmental group launches new climate case against Shell to stop all investment in new oil and gas fields
21 May 2025
The NGO previously sued Shell to reduce its carbon emissions. The oil major has 700 extraction assets that have yet to be developed with potential CO2 emissions of 36 times those of the Netherlands’ annually.
More than 70% of adaptation plans for European cities are ‘inconsistent’
20 May 2025
More than 70% of European cities are not adapting to climate change in a consistent and coherent way.
Greenland dangles rare earths partnership with EU as Trump looms
20 May 2025
Greenland’s foreign minister has suggested the European Union could develop its coveted mineral resources amid threats by U.S. President Donald Trump to seize the island.
Help sustainable aviation fuels take off or delay targets, airlines warn EU
20 May 2025
Earmarked funding, risk-reduction tools, and simplified imports top Airlines for Europe’s wish list for the EU’s upcoming Sustainable Transport Investment Plan.
Germany on track for 2030 climate goal but future targets at risk, advisers say
19 May 2025
Germany is on track to meet its 2021-2030 climate goal but risks missing post-2030 targets, independent government advisers warned on Thursday, urging a clear long-term climate strategy for Europe's largest economy.
