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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 and nature degradation pose risks to our economy and the financial sector. We need to assess how these risks and the transition to a carbon-neutral society affect our economy, so that we can account for their impact 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 keep our policies fit and effective in a changing world.

Managing climate-related risks

We work to better understand, monitor and manage climate-related risks in monetary policy and investment operations, and in the financial system. We also assess the economic impact of climate-related policies and explore the relationship between climate, nature and the economy.

More on managing climate risks
Supporting the green transition

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

More on supporting the green transition
Fostering wider action

We help improve general understanding of climate and nature-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

We are already taking action wherever possible within our mandate. And, we adapt our climate strategy in line with the continual improvements in the data and models we use to understand climate and nature-related risks.

More on our approach

Ongoing climate action at the ECB

Our climate and nature plan 2024-2025 at a glance

We have identified three focus areas that will guide our activities in 2024 and 2025.

More about the plan

Banking supervision

As part of our supervisory role, we are responsible for ensuring that banks manage risks, including those stemming from climate change. That’s why we are working to incorporate climate and environmental considerations into our supervision.

Find out more

Environmental protection

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

Find out more

Our climate-related financial disclosures

As part of our commitment to transparency and our climate objectives, we regularly disclose information about the carbon footprint and climate risk of our investments.

More on our climate-related financial disclosures

Internal strategy and coordination

Climate change centre

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

Press release

LOOKING FOR THE LATEST ON CLIMATE CHANGE?

SEE BELOW

22 May 2025

Nature’s bell tolls for thee, economy!

25 March 2025

AI versus green: clash of the transitions?

13 February 2025

The economic impact of floods

12 February 2025

From concept to delivery: accounting for climate and nature in maintaining price stability and keeping banks safe and sound

17 January 2025

Interview with Het Financieele Dagblad

VIEW ALL PUBLICATIONS ON CLIMATE CHANGE

The ECB Podcast – The climate and nature plan: our path to a greener future

What lies ahead for our work on climate change in 2024 and 2025? How will we tackle financial risks from nature loss and degradation?

Our host Stefania Secola examines our climate and nature plan with climate change centre head Irene Heemskerk on The ECB Podcast.

Listen to the ECB Podcast on our climate and nature plan

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