Finance
Europe’s Biggest Banks Face New Green Asset Ratio Disclosure
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Europe’s biggest banks face new rules to disclose how much of their business contributes to climate change.
The “Green Asset Ratio,” announced by the European Banking Authority on Monday, would be a key metric to show if a firm is shifting away from financing fossil fuels and toward renewable energy. The proposal to the European Commission would apply to big investment firms and banks including Deutsche Bank AG and BNP Paribas SA.