(Only in italian)
La Banca d’Italia, d’intesa con la Consob, ha adottato il seguente provvedimento in attuazione dell’articolo art. 10, comma 5, del decreto legislativo n. 210/2001 (attuativo della “Settlement Finality Directive” direttiva 98/26/CE) al fine di preservare le attuali condizioni di partecipazione degli enti italiani al sistema CREST UK gestito dal depositario centrale di titoli britannico Euroclear UK & International, regolato dalla legge inglese.
The ECB has set institution-specific deadlines for achieving full alignment with its expectations by the end of 2024. While there can be exceptions in individual cases, the ECB has communicated its expectation to banks to reach, as a minimum, the following milestones. In a first step, the ECB expects banks to adequately categorise climate and environmental risks and to conduct a full assessment of their impact on the banks’ activities by March 2023 at the latest.
In a second step, and at the latest by the end of 2023, the ECB expects banks to include climate and environmental risks in their governance, strategy and risk management. Some banks have already started to plan for the transition to a low-carbon economy and to engage with their clients. However, a wait-and-see approach still prevails in most banks. For example, banks do not set interim targets or limits to their risk-taking with a view to fulfilling their long-term strategic commitments, or set them in such a way that the immediate impact on the bank’s business is negligible.
