www.ecb.europa.eu
30 January 2024
- Increasing impact of climate crisis on economy and financial system drives need for more action
- ECB reaffirms commitment to ongoing climate actions and will review them regularly
- Three focus areas to guide work for 2024 and 2025: implications of green transition, physical impact of climate change, and nature-related risks for the economy and financial system
The European Central Bank (ECB) has decided to expand its work on climate change, identifying three focus areas that will guide its activities in 2024 and 2025:
- the impact and risks of the transition to a green economy, especially the associated transition costs and investment needs;
- the increasing physical impact of climate change, and how measures to adapt to a hotter world affect the economy;
- the risks stemming from nature loss and degradation, how they interact with climate-related risks and how they could affect the ECB’s work through their impact on the economy and financial system.