The EU today faces two dramatic challenges: the COVID-19 Pandemic and the climate transition. The EU’s recovery plan for the pandemic falls far short of the estimated €2 trillion needed for achieving a sustainable recovery in line with the EU’s environmental objectives.
This report from Positive Money Europe and the Sustainable Finance Lab explains how the European Central Bank can incentivize private banks to lend more money for green investments. By tweaking its Targeted Longer-Term Refinancing Operations (TLTROs) programme, the ECB could make green lending much more affordable for small businesses and households.
With Eurozone governments spending huge amounts to fight the recession caused by Covid-19, the debt sustainability debate and how to manage it will only intensify in the coming months.
This report, written by Sebastian Diessner, assesses the merits and drawbacks of different monetary finance proposals with the potential to revive the euro area economy. It seeks to structure the debate on how the ECB should do this by ordering, categorising and assessing the monetary policy options it has at its disposal to tackle the upcoming recession.
In this policy briefing, co-written with the New Economics Foundation and 350.org, we offer policymakers a list of recommendations that, if implemented by the ECB, would constitute a successful strategic review from a climate justice perspective.
This report outlines why and how “helicopter money” should be deployed as soon as possible in the Eurozone. It summarizes the benefits of using helicopter money in the context of the Covid-19 crisis.
It aims to help policymakers carefully prepare for the practical implementation of helicopter money. It clarifies how it can be implemented swiftly, legally, and democratically in the Eurozone context.
From Dialogue to Scrutiny: Strengthening the Parliamentary oversight of the European Central Bank (April 2019)
This report, co-written by Stanislas Jourdan (Positive Money Europe) and Wojtek Kalinowski (Veblen Institute), includes an exclusive analysis of the corporate-sector purchase programme (CSPP) by the European Central Bank (ECB). The report was originally published in French (here).
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Latest news on sustainable finance
Those sceptical that the European Central Bank (ECB) should its green monetary policy claim this is not compatible with the ECB’s mandate, and that this would be undemocratic. But fighting climate change is part of the ECB’s mandate, and democratically elected politicians can legitimise a greener approach.
A new report by Positive Money Europe proposes to accelerate building renovations in the EU by tweaking the European Central Bank’s gigantic “TLTROs” programme to incentivize banks to offer cheap loans for building renovations.