European Central Bank to establish center on climate change

The European Central Bank (ECB) will establish a center to unify affairs related to climate change in 2021, the financial institution reported.
According to the ECB, creating this division reflects the growing importance of climate impacts on the economy and the monetary policy of this financial institution.

The center, it added, will be in charge of the agenda related to climate issues in the eurozone.

In this regard, ECB President Christine Lagarde noted that ‘climate change affects all areas of our monetary policy’ and added that the new structure will include topics on climate in the business routine of the European bank.

She also warned that risks related to climate change are not the same in countries and sectors of the European economy.

Without affecting the main objective of price stability, she added, the ECB will assess how to support the economic policies of the European Union and its priorities in the fight against climate change.

Leave comment

Your email address will not be published. Required fields are marked with *.