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ECB's Lagarde urges climate resilience drive after scorching summer
European Central Bank President Christine Lagarde has called for stronger climate resilience efforts following a summer of extreme heat. The ECB has repeatedly warned that climate change poses risks to banks, financial stability and the broader economy, and Lagarde's remarks underline pressure on policymakers and financial institutions to prepare for more frequent extreme weather events.
Why now: A scorching summer has renewed attention on climate risks to the economy and financial system, and a prominent central banker's call adds weight to the debate.
Christine LagardeEuropean Central Bank
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