{"id":1950,"date":"2020-04-07T23:43:38","date_gmt":"2020-04-07T21:43:38","guid":{"rendered":"https:\/\/reclaimfinance.org\/site\/?page_id=1950"},"modified":"2025-07-01T11:17:48","modified_gmt":"2025-07-01T09:17:48","slug":"central-banks-coronavirus-climate","status":"publish","type":"page","link":"https:\/\/reclaimfinance.org\/site\/en\/central-banks-coronavirus-climate\/","title":{"rendered":"Making money work for climate"},"content":{"rendered":"

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making money work for climate<\/h1><\/span>
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All public actors must take responsibility and fight the climate emergency. Yet, central banks\u2014the pillars of our economy\u2014remain dangerously passive. <\/b><\/p>\n

Central banks can significantly influence how polluting and \u201cgreen\u201d activities are financed. They supervise the monetary and financial system and issue money, thus determining money availability and lending conditions. In times of crisis, central banks are lenders of last resort for institutions and governments.<\/p>\n

Reclaim Finance calls on central banks to immediately integrate climate considerations into their operations. The European Central Bank (ECB), the Banque de France, and the NGFS must take a strong and clear stance in <\/b>favor<\/b><\/span> of climate integration and push for rapid and concrete actions to reduce greenhouse gas emissions.<\/b><\/p>\n

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<\/i>Read our demands related to Central Banks <\/span><\/a><\/div>
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The European Central Bank\u2019s (ECB) guilty inaction<\/span><\/span><\/div><\/h2><\/span>
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The European Central Bank (ECB), and President Christine Lagarde, <\/b>recognize<\/b><\/span> the urgency of the climate crisis and admit the need to integrate climate considerations into the banks\u2019 mission but remain inactive<\/b>.<\/span> The bank hides behind technical difficulties, works in progress, and a few <\/span>green bond purchases<\/u><\/span><\/a> to <\/span>delay action<\/u><\/span><\/a>. Meanwhile, the central bank keeps citizens from accessing <\/span>essential information<\/span><\/a> needed to precisely assess the bank<\/span>s\u2019 climate impact.<\/span>
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In doing so, the ECB refuses to assume its m<\/span>andate. By allowing climate change to increase, it endangers price stability, acts against European climate targets, and leaves the financial system exposed to new risks and shocks.<\/p>\n<\/div>

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Find out more about the ECB’s mandate<\/span><\/a><\/div>