Posted on Feb 11, 2019 2021 at 9:24Updated 11 Feb. 2021 at 11:44
The European Central Bank must integrate climate issues into its monetary policy. Including in its purchasing program (QE). This is the message sent by François Villeroy de Galhau to his peers in the Eurosystem. In a speech delivered at an event organized by Option Finance, the Governor of the Banque de France pleaded for a green revolution in the action of the ECB.
“ The consideration of climate change by the Eurosystem is neither an abuse of mission, nor a simple activist conviction or a fad; this is an imperative that we must pursue in the very name of our current mandate and to ensure the proper implementation of monetary policy », Insisted François Villeroy de Galhau, recalling in particular the impact of climate issues on price stability. A response to critics who believe that the fight against global warming does not fall within the competence of the central bank.