The EBA supports the NGFS Declaration on the economic cost of climate inaction on the occasion of COP30

As an active member of the Network for Greening the Financial System (NGFS), the European Banking Authority (EBA) is proud to announce the release of the NGFS Declaration on the Economic Cost of Climate Inaction on the occasion of the 2025 United Nations Climate Change Conference (COP30) in Belém, Brazil. The declaration underscores the mounting macroeconomic and financial risks of delayed climate action and reaffirms the NGFS’s commitment to supporting a well-managed transition to a low-carbon economy.