Open letter to the ECB Governing Council calling on greener monetary policy

More than 40 civil society organizations and 20 experts have called on the European Central Bank (ECB) to update its climate and nature approach. The signatories argue that current monetary policy, including high interest rates and the phasing out of asset purchases, has hampered green investment. They demand a new Climate Roadmap for the 2025 monetary policy strategy assessment, specifically recommending the update of the collateral framework, the tilting of securities in asset portfolios, and the introduction of green lending facilities to align the ECB's mandate with the EU's green transition goals.

• The signatories argue that the ECB's current monetary policy has created obstacles for the energy transition, noting that high interest rates have harmed green investment and the phasing out of asset purchases has ended the climate tilting policy established in the previous Roadmap.
• The letter urges the ECB Governing Council to introduce a new Climate Roadmap as part of the 2025 monetary policy strategy assessment, proposing three specific measures: updating the collateral framework, tilting the stock of securities in asset portfolios, and introducing green lending facilities.
• The authors contend that a faster and orderly transition is necessary for price and financial stability, asserting that continued dependency on fossil fuels leaves the economy vulnerable to price shocks.

APA

Dirk, B., Hugues, C., Jézabel, C.-S., Yannis, D., Jérôme, D., Nicolas, D., Nicolas, F., Alain, G., Katie, K., Maria, N., Dominique, P., Friedemann, P., Catherine, R.-A., Andrea, R., Mark, S., Laurence, S., Jens, V. ‘. K., Hielke, V. D., Rens, V. T., & Joscha, W. (2025). Open letter to the ECB Governing Council calling on greener monetary policy. Reclaim Finance. https://reclaimfinance.org/site/en/2025/01/28/open-letter-to-the-ecb-governing-council-calling-on-greener-monetary-policy/

Chicago

Dirk, Bezemer, Chenet Hugues, Couppey-Soubeyran Jézabel, Dafermos Yannis, Deyris Jérôme, Dufrêne Nicolas, Franka Nicolas, et al. Open letter to the ECB Governing Council calling on greener monetary policy. Reclaim Finance, 2025. https://reclaimfinance.org/site/en/2025/01/28/open-letter-to-the-ecb-governing-council-calling-on-greener-monetary-policy/.

Wikipedia

{{cite press release |last1=Dirk |first1=Bezemer |last2=Hugues |first2=Chenet |last3=Jézabel |first3=Couppey-Soubeyran |last4=Yannis |first4=Dafermos |last5=Jérôme |first5=Deyris |last6=Nicolas |first6=Dufrêne |last7=Nicolas |first7=Franka |last8=Alain |first8=Grandjean |last9=Katie |first9=Kedward |display-authors=etal |title=Open letter to the ECB Governing Council calling on greener monetary policy |publisher=Reclaim Finance |date=28 January 2025 |url=https://reclaimfinance.org/site/en/2025/01/28/open-letter-to-the-ecb-governing-council-calling-on-greener-monetary-policy/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{dirk2025open, author = {Dirk, Bezemer and Hugues, Chenet and Jézabel, Couppey-Soubeyran and Yannis, Dafermos and Jérôme, Deyris and Nicolas, Dufrêne and Nicolas, Franka and Alain, Grandjean and Katie, Kedward and Maria, Nikolaidi and Dominique, Plihon and Friedemann, Polzin and Catherine, Refait-Alexandre and Andrea, Roventini and Mark, Sanders and Laurence, Scialom and Jens, Van ‘t Klooster and Hielke, Van Doorslaer and Rens, Van Tilburg and Joscha, Wullweber}, title = {{Open letter to the ECB Governing Council calling on greener monetary policy}}, publisher = {Reclaim Finance}, year = {2025}, month = jan, url = {https://reclaimfinance.org/site/en/2025/01/28/open-letter-to-the-ecb-governing-council-calling-on-greener-monetary-policy/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }