NGOs call on ECB to act on climate change

On December 2nd a group of NGOs, including the Club of Rome, met with the new president of the ECB, Christine Lagarde, to hand over an open letter calling on the ECB to act on climate change. The letter was signed by more than 160 NGOs.

Sandrine Dixson Declève, co-president of the Club of Rome: “It is high time for the ECB to show leadership in shifting financial flows towards a low carbon equitable economy and take the climate crisis seriously. To do so ECB must follow EIB leadership and pull out of all unabated fossil fuel financing by 2021. This will reinforce the EIB’s message across the globe that the greatest financial risk is investing in stranded high carbon assets and not taking the human and material costs of climate change seriously.“

Lagarde subsequently confirmed climate change will be in the agenda of the ECB’s review next year.