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Climate change and the ECB

We are firmly committed to doing our part to address climate change, within our mandate.

Climate change poses risks to our economy and the financial sector. We need to assess how climate change and the transition to a carbon-neutral society affect our economy, so that we can account for their influence on our work as a central bank and banking supervisor. This will help us to keep prices stable and banks safe.

Our objectives

Our work on climate change focuses on three main objectives. These help our policies to remain effective and fit for a changing world.

Managing climate-related risks

We work to better understand, monitor, and manage and climate-related risks in our monetary policy and investment operations as well as in the financial system. We also assess the economic impact of climate change and mitigation policies.

More on managing climate risks
Supporting the green transition

We support an orderly transition to a carbon-neutral economy with measures that are within our mandate. This includes promoting the development of sustainable finance and creating incentives for a greener financial system.

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Fostering wider action

We help improve the overall understanding of climate-related risks and work closely with European and international partners on climate and sustainable finance topics. We also work to improve the transparency of our activities, and reduce our own environmental impact.

More on fostering wider action

Our approach

Our climate strategy will evolve over time as the data and models that we use to understand climate-related risks improve. In the meantime, we are already taking action wherever possible.

Ongoing climate action at the ECB

Our climate agenda

Our climate agenda details all ongoing climate-related work at the ECB, grouped into six priority areas and based on our three strategic climate objectives.

Our climate agenda

Environmental protection

We continuously work to reduce the environmental footprint of our day-to-day corporate activities.

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Climate change centre

We have set up the climate change centre to help shape and steer our climate agenda, bringing the work and expertise of different business areas together.

Press release
The ECB Podcast: Climate stress test: time to act now!

What are the results of our first economy-wide climate stress test? What do they mean for people, companies and banks? In this episode of The ECB Podcast, our host Katie Ranger discusses these questions with Vice-President Luis de Guindos and Irene Heemskerk, the head of our climate change centre.

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