Ask Lagarde to break free from fossil fuels to bring down food and energy prices
Fossil fuels play a key role in driving up prices. To tackle soaring bills and protect our planet, powerful institutions such as the European Central Bank (ECB) must cut ties with fossil fuels and reroute our whole system towards renewables!
While fossil fuel giants like Eni, Total and Shell are reaping windfall profits, the rest of us are struggling with soaring prices. These crises don’t happen randomly: they’re partly the result of fossilflation and climateflation.
This happens when food, energy and other prices go up because our whole system relies too much on fossil fuels such as oil and gas, or because extreme climate events such as droughts cause crop shortages and, therefore, price hikes.
Key financial players such as the ECB must take steps to reverse this situation and fight climate change!
Interest rate rises at the ECB don’t tackle fossilflation; instead, they stifle investments in the renewable energy projects we desperately need.
We demand that the ECB’s President, Christine Lagarde, works to adopt a ‘differentiated’ interest rate approach, making investment in energy efficiency and renewables more affordable by lowering the interest rates on loans to these sectors.
Please sign the letter to demand that Christine Lagarde take action now.
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