Audio Finance - 11/June/2020

Central banks swept up in climate action debate

Many believe the ECB and other central banks should bring climate considerations into the rulebook governing what they support and how

PRINCIPLE AIM
The clean energy transition is a priority of the European Central Bank, but price stability is generally regarded as the main task of the ECB and other central banks

LACK OF INDEPENDENCE 
Some central banks in Asia have a broader remit than the ECB, offering preferential loans for investments in the energy transition, but are still not independent and follow where governments lead

KEY QUOTE 
Central banks cannot be a substitute for government action on climate change ...

 

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