Dual rates: here is how the ECB can speed up the green transition

Dual rates: here is how the ECB can speed up the green transition

When we think of fighting climate change, financial institutions like the European Central Bank (ECB) might not immediately come to mind. However, as we have shown in our latest explainer, the ECB holds a pivotal role in this global challenge. As a major financial authority, the ECB can influence financial flows and investments across Europe, making it a potential powerhouse in driving the green transition.

A missed opportunity: EU Parliament’s resolution falls short on green initiatives

A missed opportunity: EU Parliament’s resolution falls short on green initiatives

On Tuesday, 27 February 2024, the European Parliament adopted its annual resolution on the Annual Report of the European Central Bank (ECB). While this resolution is non-binding, it serves as an important tool for monitoring and evaluating the ECB’s activities, both past and present. It also provides a platform for the European Parliament to offer recommendations for the Bank’s future policies. Essentially, it is a key instrument for democratic oversight of an independent institution like the ECB, whose decisions significantly impact the lives of Europeans. 

Banks are making billions while people struggle – the ECB needs to act

Banks are making billions while people struggle – the ECB needs to act

Today, together with a group of distinguished economists and Members of the European Parliament (MEPs), we sent an open letter to the Governing Council of the European Central Bank (ECB). Our collective call is for a thorough reassessment of the minimum reserve requirements imposed on commercial banks within the euro area. Among the signatories are academics Paul De Grauwe, Yuemei Ji, Andrea Roventini, Sebastian Diessner and Philipp Heimberger, and MEPs including René Repasi, Philippe Lamberts, Bas Eickhout, Henrike Hahn, Paul Tang and Evelyn Regner. We are also joined by the UN Special Rapporteur, Olivier De Schutter.

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