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Markus K Brunnermeier, Jean-Pierre Landau
Concerns about climate change have been central to the economic policy discussion in recent decades, with increasing urgency. More recently, debates have emerged on central banks’ role in mitigating climate change, or on increasing their awareness of their environmental impact (Brunnermeier and Landau 2020). The February 2021 CfM-CEPR survey asked members of its European panel of experts about measures the ECB could take to address the environmental impact of its bond-purchasing policies, in light of some suggestions that the bonds the central bank purchases overweigh industries that have negative environmental impact. The panel was also asked whether it would consider changing the ECB’s mandate to contain environmental targets. ....

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