25 June 2024

• Eurosystem tilting framework played a meaningful part in reducing financed emissions associated with corporate assets in monetary policy portfolios in 2022 and 2023
• Disclosures expanded to cover over 99% of Eurosystem monetary policy holdings
• Disclosures aim to improve transparency and support wider efforts to narrow climate data gap
• Interim targets to be set to monitor emission reduction trajectory of corporate asset portfolios on a path that supports the goals of the Paris Agreement

The European Central Bank (ECB) has today published its second set of climate-related financial disclosures, which provides information on the carbon footprint of its portfolios and their exposure to climate risks, as well as on climate-related governance, strategy and risk management.

The disclosures show that carbon emissions associated with Eurosystem corporate sector portfolios have continued to decline. Most of this reduction was due to securities issuers becoming more carbon-efficient….