Introductory remarks by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the MNI Webcast on Climate Change: Impact on Monetary Policy and Bank Supervision

Frankfurt am Main, 12 February 2025

Central banks and supervisors are not climate and nature policymakers.

Central banks and supervisors are climate and nature policy takers.

And we face an ever-increasing volume of climate and nature-related factors that we must take into account in order to successfully deliver on our mandate.

This is the fundamental principle that underpins all our climate and nature-related activities at the European Central Bank.

It is a principle grounded in irrefutable facts established by the scientific community and transposed to make their implications clear for the economy and financial system. At the ECB, we have translated this principle into our monetary policy and supervisory work as a strategic commitment to account for the ongoing climate…