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ECB Board Member Proposes Intensification of Climate-Related Action
February 14, 2023On January 10, Isabel Schnabel, a member of the Executive Board of the European Central Bank (ECB), gave a speech at an international symposium on central bank independence on monetary policy tightening and the green transition. The event was hosted in Stockholm by the central bank of Sweden. Schnabel made the case that current climate-related actions being taken by the ECB will be insufficient for the central bank to meet its objectives of carbon neutrality by 2050. The ECB’s roadmap detailing its climate change-related plans up to 2024 was published in July 2021 as part of the ECB’s action plan to include climate change considerations in its monetary policy strategy.
