Opening remarks by Christine Lagarde, President of the ECB, at the joint IEA-ECB-EIB High-Level International Conference on “Ensuring an orderly energy transition: Europe’s competitiveness and financial stability in a period of global energy transformation”

Paris, 29 September 2023

It is a pleasure to be here at today’s conference organised together with the International Energy Agency (IES) and the European Investment Bank (EIB), the first time our institutions have joined forces like this.

The recent years have shown that volatile energy prices and persistent shifts in energy markets can have significant implications for inflation dynamics.

Despite our different mandates, we therefore have a shared interest in an orderly energy transition.

In the last few years, two points about this transition have become increasingly clear.

The first is that the scientific consensus on climate change is being borne out.

Everywhere we look, we see natural disasters becoming more frequent and…