The largest European banks are under threat due to the rapid and chaotic changes in the energy sector of the world. According to Bloomberg, this situation puts the largest banking players under serious financial threat.
At the same time, against the background of current changes in the economy, dictated by concern for the ecology of the planet, the above assets may depreciate.
In particular, the agency notes, the extraction of oil, gas and coal, which has been actively developing in step with the industrial revolution, has led to a record level of carbon dioxide emissions into the atmosphere.
To avoid the catastrophic effects of climate change and meet the Paris Agreement targets, air emissions will need to be halved by the end of the decade and eliminated entirely by 2050.
“Following an imminent environmental transition, the depreciation of fossil fuel assets could lead to significant turbulence or even trigger a new financial crisis,” the researchers write in their report.