ECB and Banque de France: end the wait-and-see attitude

Reclaim Finance criticizes the European Central Bank (ECB) and Banque de France for a 'wait-and-see attitude' toward the climate crisis. The statement contends that the ECB's creation of a 'climate center' and its investment in green bonds are insufficient 'publicity stunts' that do not address the bank's continued financial support for polluting companies and fossil fuel projects through its multi-trillion euro monetary policy.

• The ECB and Banque de France are accused of delaying the implementation of ambitious climate measures, with the Banque de France governor suggesting a timeline of "3 to 5" years for implementation and the ECB's new 'climate center' only slated for review in three years.
• The ECB's focus on green bonds is characterized as a marginal action that does not impact its broader monetary policy; currently, only 728 million of its 20.8 billion euro own funds are invested in green bonds.
• The ECB's 5 trillion euro response to Covid-19 lacks climate or environmental criteria, resulting in continued support for 38 fossil fuel companies through asset purchases and allowing banks to fund polluting activities at low or negative rates.
• Despite the Banque de France reducing its own fossil fuel investments, its governor is criticized for remaining silent on the ECB's monetary policy, which supports companies planning 67 new oil and gas projects.

APA

admin (2021). ECB and Banque de France: end the wait-and-see attitude. Reclaim Finance. https://reclaimfinance.org/site/en/2021/01/29/ecb-and-banque-de-france-end-the-wait-and-see-attitude/

Chicago

admin. ECB and Banque de France: end the wait-and-see attitude. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/01/29/ecb-and-banque-de-france-end-the-wait-and-see-attitude/.

Wikipedia

{{cite press release |last1=admin |title=ECB and Banque de France: end the wait-and-see attitude |publisher=Reclaim Finance |date=29 January 2021 |url=https://reclaimfinance.org/site/en/2021/01/29/ecb-and-banque-de-france-end-the-wait-and-see-attitude/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021ecb, author = {admin}, title = {{ECB and Banque de France: end the wait-and-see attitude}}, publisher = {Reclaim Finance}, year = {2021}, month = jan, url = {https://reclaimfinance.org/site/en/2021/01/29/ecb-and-banque-de-france-end-the-wait-and-see-attitude/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }