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The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.

The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.

As investors' calls for greater climate-related corporate accountability grow louder, the "E" in ESG—environmental, social and governance—looms larger than ever, particularly from the perspective of...

Driving #financeforchange in Malaysia — what the regulators say The Edge 1 day ago Adeline Paul Raj © Provided by The Edge GIVEN its importance to the economy and influence over corporates and individuals, the financial sector plays a crucial role in driving changes for a sustainable future. In Malaysia, the sector has made some encouraging progress in terms of stepping up to the challenge. Financial institutions, especially the bigger ones, have begun to formulate their l...

Can the Taskforce on Nature-related Financial Disclosures solve the global ecological crisis? The Taskforce on Nature-related Financial Disclosures (TNFD) officially launched on Friday (4 June) with an overarching aim to align corporate reporting and financial spending to alleviate nature-related risks. Here, edie explores whether the new initiative can generate enough momentum to deliver tangible change. The TNFD has officially launched today There has been a recorded 83% extinction of wild ma...

SPEECH The embrace of the horizon: Forcefully moving with the changing tide for climate action in financial sector policies Speech by Frank Elderson, Chair of the Central Banks and Supervisors Network for Greening the Financial System, Member of the Executive Board and Vice-Chair of the Supervisory Board of the ECB, at The Green Swan Conference – Coordinating finance on climate Frankfurt am Main, 3 June 2021 Many thanks to the organisers for inviting me to address this conference with so many...

Why Technology Could Slow the Clean Energy Transition Energy density—defined as the “amount of energy stored in a given system, substance, region of space per unit volume”—is the main reason why fossil fuels will not be replaced in the near future by renewables. Approximately 84 percent of global electricity derives from oil, natural gas, and coal. The International Energy Agency (IEA) released a sobering report on the mining and infrastructure requirements needed for decarbonization a...

 E-Mail Researchers at the University of Zurich show how climate mitigation scenarios can be improved by taking into account that the financial system can play both an enabling or a hampering role on the path to a sustainable economic system. To limit global warming, a profound transformation of energy, production and consumption in our economies is required. The scale of the transformation means that the financial system must have a proactive role. New green investments are needed, as well a...

© Getty Images As if central banks today did not already have enough to do printing all the paper money needed to finance proliferating government spending. Regardless, they are taking on a new responsibility, the “greening of the financial system.”  According to the Wall Street Journal, they have pledged to join forces with financial regulators, “to limit climate change by steering their financial systems away from funding fossil fuels.” Given central banks’ collective history of c...

RBI joins network for ‘greening the financial system’ April 29, 2021 NGFS was launched at the Paris One Planet Summit on December 2017 The Reserve Bank of India (RBI) has joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as a Member. The NGFS is a group of Central banks and supervisors willing to share the best practices and contribute to the development of the environment and climate risk management in the financial sector, while mobilising mainstr...