First green asset ratios come in low as EU banks protest methodology
ABN Amro only bank to break double digits in a sample of 23 lenders
Less than 3% of assets held by banks in the European Union met the bloc’s new taxonomy for sustainable finance in 2023, a Risk Quantum analysis of 23 lenders has found.
Beginning this year, EU banks are required to publish a green asset ratio (GAR) in their Pillar 3 disclosures, which shows the percentage of assets within their lending businesses – including loans, bonds and equity held in the banking book – that fund climate-friendly activities.
On aggregate, the banks held €316.6 billion ($337
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