Source: China – South China Morning PostChina’s banks face rising default risks as a result of higher climate-related costs in carbon-intensive sectors like thermal power, steel and cement, Liu Guiping, vice governor of the central bank, said in comments published on Friday.The People’s Bank of China completed the first phase of its climate risk stress tests at 23 major banks last year, focusing on the possibility that the three sectors would be forced to pay for their carbon emissions, Liu wrote in the bank’s China Finance…Read More