Today with more than a dozen NGOs specialising in climate and environmental issues, we sent a letter to King Philippe and Finance Minister Vincent Van Peteghem. We are requesting the appointment of a Governor of the National Bank of Belgium who is equipped to meet the challenges of climate change.
Get the ECB interest rates explained in plain terms! Discover more with the latest from our explainer series!
There is evidence that the decision by central banks to raise interest rates is already slowing down investments in the renewable energy sector, thereby undermining the green transition. This is in direct contradiction to the latest climate stress test of the European Central Bank (ECB), which calls for a faster switch to a greener economy. It’s time for the ECB to rethink its approach, as opposed to raising interest rates without regard to the outcomes.
Can the ECB both tackle inflation and protect green investments?
Climate-vulnerable countries across the Global South are facing a vicious climate-public debt cycle.
With the conclusion of its reinvestments, the greening of the ECB’s Corporate Sector Purchase Programme has come to an end. As the portfolio slowly winds down, the ECB must seek alternative ways to green it.
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