with gender. so the effort to get more women in management positions does not achieve anything? that ’ s not the point. we are talking about the governing council of the ecb, which concerns itself with economic issues. here, individual opinions have little to do with whether you are a man or a woman. not everything should be made into a gender issue. but the atmosphere is surely a bit more cheerful. it ’ s easy to have a laugh with you. do you mean to say that men don ’ t laugh? germans are worried because soon the bundesbank will not be able to vote in the governing council every time, on account of the rotation of voting rights. is that a bad thing? too much is being made of this topic. anyone without voting rights at a given time can still clearly express his or her opinion in the governing council – and can convince the others. will the others not take us to the cleaners when mr weidmann is not voting? nobody will be taken to the cleaners. moreover, there is no place for resentment. in the governing council of the ecb, people exchange their views and now and again are even convinced to change their minds. since the governing council has decided to start publishing its minutes in the near future, you will soon be able to see this for yourself. and if jens weidmann cannot vote, you can still represent the german position. i can always vote, but i take a rather conservative approach. however, above all, i am independent and committed to the ecb ’ s mandate of maintaining price stability. bis central bankers ’ speeches

test frameworks, but also the sustainability of their income sources vis - a - vis the green transition. let me emphasise that in this exercise we define resilience very broadly. we test the capabilities of banks to analyse, assess and respond to the consequences of climate - related and environmental stress in both a quantitative and qualitative fashion. what i call a narrow stress test – i. e. the typical number - crunching to assess the impact of physical and transition stress on capital and income – is only one part of the overall exercise. at this stage, the fact that banks provide proof of their climate stress testing capabilities is as important as the results of the test. the results from this stress test will complement the information from the thematic review, in which we will assess the evolution of the soundness, effectiveness and comprehensiveness of banks ’ c & e risk management practices, as well as their ability to steer their c & e risk strategies and risk profiles towards the targets they set forth in their action plans. i will now delve a little deeper into this exercise. thematic review on climate - related and environmental risks a year has passed since banks completed their self - assessments and drew up their action plans. so, where do banks stand in terms of their alignment with the ecb ’ s supervisory expectations on managing c & e risks? this is the question the ecb ’ s thematic review on c & e risks seeks to answer. the thematic review is being carried out jointly by the ecb and the national competent authorities and assesses 107 significant banks and 79 less significant banks. truly all of european banking supervision is pitching in – supervisors from the ecb and the national competent authorities are working together to ensure the consistency of the supervisory approach as well as the outcomes of the exercise. this broad scope and our close cooperation have been incredibly enriching, as they have enabled us to actively share our knowledge and experience and to learn from each other ’ s practices on a daily basis. while the ultimate objective is for all banks to be fully aligned with our supervisory expectations, the thematic review is intended to be a learning exercise – not just for supervisors across europe, but also for the banks. this is why we have made a point of sharing good practices we have observed – so that banks can draw inspiration and push forward. new supervisory tools are being developed as banks step up their modelling and management of c & e risks. there is now a common understanding that these risks are a fundamental part of