EU Council Agrees on Rules to Reduce Emissions from Heavy Duty Trucks by 90% by 2040
The European Council announced that it has reached an agreement on new rules aimed at strengthening regulations on emissions standards for new heavy-duty vehicles such as trucks, buses and trailers, which account for over 6% of total greenhouse gas (GHG) emissions in the EU. The new rules include a requirement for a 90% emissions reduction by 2040.
EU Bank Regulator Recommends Accelerating Integration of ESG Risks into Capital Requirement Framework
The European Banking Authority (EBA) announced the publication of a new report assessing the role of environmental and social risks in its prudential supervision framework for banks and investment firms, and it emphasizes how these factors will become more prominent over time, changing the risk profile for the banking sector, across financial categories such as credit and market risk, as well as operational risks, and potentially affecting individual institutions as well as the overall financial system’s stability.