Ex-Deutsche CRO: banks face hundreds of billions in climate fines
Banks risk becoming a “whipping dog” in the fight against climate change, says departing risk chief
Missteps on the path to a low-carbon economy could cost the banks charged with financing it hundreds of billions of dollars in fines and settlements, one of finance’s longest-serving chief risk officers (CROs) has warned.
Stuart Lewis – who until this month served for a decade as group CRO at Deutsche Bank – compared the onus being placed on banks to help limit global temperature rises to 1.5°C above pre-industrial levels to their designated job on the front line of the fight against money
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