European Central Bank President Christine Lagarde stressed that climate protection remained a top priority even though the economic fallout from the coronavirus pandemic had dominated the ECB’s agenda in recent months. — Reuters pic
“I have children, I have grandchildren. I just don’t want to face those beautiful eyes, asking me and others: ‘What have you done?’” The ECB describes “green bonds” as those “earmarked to finance investment projects with an environmental benefit”, as opposed to bonds linked to carbon-intensive industries or other “brown” sectors that contribute to global warming.
The ECB has spent nearly €3 trillion since 2015 hoovering up government and corporate bonds to encourage spending and investment in the hopes of driving up growth and inflation.
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