ContextSpeech on the strength of the financial system as chair of the French supervisor ACPR; the Banque de France keeps finance stable in a new rate environment.
Why it mattersVilleroy makes climate disclosure compulsory for French banks from 2023.
Problems raised
Uncertainty and volatility are high.
Climate risks are not well disclosed.
The financial system faces a new economic landscape.
Solutions proposed
Increase vigilance over all risks.
Make climate disclosure compulsory for banks from 2023.
Operationalise transition plans and climate stress tests.
