ECB unveils plan to push climate-friendly investments

FRANKFURT, July 4 —The European Central Bank today unveiled plans to make its monetary policy greener but met with criticism from environmental groups who urged the Frankfurt-based institution to go further.

This will be measured through indicators such as lower greenhouse gas emissions, more ambitious carbon reduction targets and better climate-related disclosures, the bank said. The aim is to “give companies more incentives to reduce their emissions”, Isabel Schnabel, a member of the ECB’s executive board, told a press briefing.The ECB has been repeatedly criticised by environmental activists for the outsized role energy companies like the oil majors Shell and TotalEnergies play in its portfolio.

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