The green transition will weaken the economy and generate more losses for banks if it is not implemented sooner rather than later, warns the European Central Bank (ECB). Although the costs of the transition may be higher initially, they are much lower than the risk of postponing it to the last minute.
Delaying the ecological transition could lead to energy prices like those at the beginning of the Ukraine invasion, the ECB notes. In view of this situation, a study has been presented that analyzes three possible scenarios and their effects if the adaptation of companies and households to a zero-emission ecosystem begins as soon as possible.
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