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View all search resultsUS authorities unveiled sweeping measures Sunday to rescue depositors' money in full from failed Silicon Valley Bank and to promise other institutions help in meeting customers' needs, as they announced a second tech-friendly bank had been closed by regulators.
The domestic banking industry is still reluctant to jump on the ESG financing bandwagon, citing challenges across the board in adopting the global principles, despite the OJK publishing a sustainability plan as far back as seven years ago.
Banks in Indonesia and other countries of the region stand to gain from a stronger macroeconomic outlook, while European lenders face much bleaker prospects, according to McKinsey & Company, but emerging markets as a whole are no longer what they used to be.
Aligning sustainability standards for all stakeholders across all sectors, and not just finance, is necessary in order to avoid both internal and external climate risks while transitioning to a green economy.
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