ECB’s Lagarde: Robust Reporting Framework Would Contribute to Risk Management

28 November 2023

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Tuesday said that a robust reporting framework would contribute to central banks’ risk-management process.

In a recorded statement at a conference of the European Financial Reporting Advisory Group in Brussels, Lagarde said that ‘a robust reporting framework will allow us, central banks, to integrate climate-related financial risks into our risk management frameworks.’

However, she said that ‘the work is not yet done’ and that sustainability reporting still needed to be fully integrated into regular financial reporting.

‘Sustainability is not merely a supplementary component nice to have', she said. 'No, it is a fundamental driver of long-term value creation and risk management, so it should be at the heart of corporate decision making.’