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Parliament urges ECB to put climate at heart of strategy review

(EurActiv, 13 Feb 2020) EU lawmakers have called on the European Central Bank (ECB) to put climate change at the centre of the bank’s review of its monetary policy strategy this year, endorsing the bank’s chief vision for “gradually eliminating” carbon assets. EURACTIV’s media partner Climate Home News reports.

The European Parliament voted by a large majority for a resolution recommending the ECB looks at ways in which central banks can tackle the climate crisis and help drive the continent’s decarbonisation.

452 MEPs from across the political spectrum voted in favour of the resolution as 142 lawmakers, including far-right parties, opposed the text during a vote in Strasbourg on Wednesday.

While the text bears no legal implications, it is a strong political signal of lawmakers’ support for ECB plans to assess and take into account climate risks.

The ECB is undergoing a strategic review this year and recommendations could be presented to the bank’s board of directors before the start of the UN climate talks, or COP26, in November.

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EurActiv, 13 Feb 2020: Parliament urges ECB to put climate at heart of strategy review

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