ECB’s Lagarde: Committed to Addressing Climate Change Within Our Mandate

7 June 2024

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Friday said that within the limits of its mandate, the ECB would work on climate change-related issues.

Speaking at the Maurice Allais Foundation in Paris, Lagarde said, according to a text provided, ‘[W]e are committed to playing our part to address climate change, within our mandate. Our approach can be summarised with three key words: analysing, advising and acting.’

The economic scenario was characterised by more instability, more volatility and more uncertainty, which challenged central bankers, she said.

‘The world never stands still, and central banks are constantly facing new shocks, new risks and changes in the economic environment – be it reversals in government policy, tensions in the financial sector or disruptions in global trade’, she said.

Climate and nature-related risks would continue to increase, for which reason it was necessary to act not only to avoid a worse situation, but to improve the existing one, she said.

‘So, within our mandate, the ECB will continue to analyse climate risks, to advise stakeholders and, importantly, to act’, she said.