The ECB intensifies climate action plan on green transition, climate risks and nature-related risks

Summary:

The European Central Bank (ECB) has decided to expand its work on climate change, focusing on three main areas in 2024 and 2025: impact of green transition, physical effects of climate change, and risks caused by loss and degradation of nature. The ECB aims to address these issues through specific measures integrated into its current functions, including monetary policy and banking supervision, enhancing climate risk indicators, monitoring, and information. The ECB will continue to influence European and international climate policies and regularly reassess its actions to ensure their effectiveness and alignment with its mandate.