In a letter to Positive Money Europe, European Central Bank (ECB) President Christine Lagarde has outlined how the ECB is fighting the climate crisis. Her letter was responding to a recent letter sent to Lagarde from 45 civil society organisations, demanding the ECB stop breaking its climate promises by supporting some of the world’s most polluting companies in its response to the Covid-19 pandemic.
The European Central Bank (ECB) had promised to green its ways of working. But because of the coronavirus, it is breaking this promise and supporting some of the worst fossil fuel polluters. Forty-five NGOs and think tanks have written to ECB President Christine Lagarde demanding action.