The European Central Bank will create an entity dedicated to climate issues. Christine Lagarde believes that global warming can have lasting effects on growth and inflation. The ECB will invest part of its own funds in a green fund of the BIS.
The European Central Bank is going green. On Monday, the ECB made many statements, announcing a clear offensive on the environment. Its president Christine Lagarde thus presented the creation of a center on climate change, in the form of a new entity which will be operational very quickly, in order to define and orient the climate agenda of the Central Bank.
This new entity, made up of around ten people, will be placed under the direction of the President of the ECB. “Climate change affects all our fields of action”, justified Christine Lagarde. “The Climate Change Center provides the structure we need to approach the issue with the urgency and determination it deserves”.