A version of this story first appeared in CNN Business' Before the Bell newsletter. You can sign up right hereLondon (CNN Business) For all their environmental overtures, banks are still pumping billions of dollars into fossil fuel companies. That could become a high-priced habit, as regulators move to tighten rules around how lenders reflect climate-related risks in their accounts. What's happening: The European Central Bank said last week that it will start conducting "in-depth" assessments of how bank balance sheets account for climate risks in 2022. It's a major sign that financial regulators are not going to leave climate supervision solely to governments — and with good reason.

Source: CNN November 22, 2020 13:41 UTC