FRANKFURT (Reuters) – The European Central Bank needs to take a role in fighting climate change and could tailor its monetary policy operations accordingly, board member Isabel Schnabel said on Friday.
“For example, we could link the eligibility of securities for our purchase programmes and as collateral in our refinancing operations to the disclosure regime of the issuing firms,” Schnabel said. “Then the Eurosystem would only accept collateral if it is able to fully assess climate-related risks.”
Schnabel, who heads the ECB’s market operations, said these considerations could play a key role in the bank’s upcoming strategy review.
(Reporting by Balazs Koranyi; Editing by Francesco Canepa)
