The European Central Bank must adjust its monetary policy to make it more climate-friendly, even as it shrinks its bloated balance sheet to fight runaway inflation in the euro zone, ECB board member Isabel Schnabel said on Tuesday.
Some of the world’s biggest central banks are unwittingly helping to finance agri-business giants engaged in the destruction of the Brazilian Amazon, according to a report published on Wednesday.
The ECB is warning climate change costs could be 5x the cost of transition. As climate risk goes mainstream, could investor concern drive climate action as international diplomacy struggles to reach agreement?
The European Central Bank should not favour so-called "green" assets in its multi-trillion-euro bond-buying programme or its work as bank supervisor, incoming ECB board member Isabel Schnabel says.
It is easy to dismiss warnings when they come from think tanks or environmental NGOs, but not when they are coming from an institution known for its data-driven reports and inherently cautious nature.
