Friday October 23, 2020

Comment: Climate must be at the core of new ECB strategy

The only way to achieve net-zero emissions by 2050 is to transform how we produce, transport and consume – which has consequences for price stability

8th October, 2020
Climate change cannot be addressed by simply reducing economic activity, overhauling production systems will be absolutely necessary. Picture: Getty

Following in the footsteps of the US Federal Reserve, the European Central Bank (ECB) has launched an in-depth review of its monetary-policy strategy. But as central banks contemplate fundamental changes in their approach, they should be mindful of possible disruptions in their operational environment.

Nowhere is this truer than in strategies to address climate change, one of the most important issues of our time. Since European countries have pledged to make their economies carbon-neutral by...

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