From climate consciousness to climate action: leveraging the ECBs new strategy

The statement critiques the ECB's July 2021 climate strategy for having a slow implementation timeline and significant gaps in its roadmap. It specifically highlights the failure to include the collateral framework in climate criteria and the imprecise wording regarding corporate asset purchases, which may allow continued support for fossil fuel companies. The author recommends an immediate cut to support for companies obstructing the green transition, the use of refinancing operations for energy efficiency, and the adoption of a precautionary approach to climate risks to avoid stranded assets.

• The ECB's new strategy commits to integrating environmental sustainability into its monetary policy, acknowledging that climate integration is required by its primary and secondary mandates.
• The ECB's roadmap for climate action is criticized for being too slow, with measures prepared in 2021 and 2022 but not implemented until 2023, meaning the bank will continue to support highly polluting companies for at least 18 months.
• The criteria for adjusting corporate asset purchases are deemed imprecise, potentially allowing the ECB to support companies developing fossil fuels based on vague "commitments of the issuers" rather than real progress.
• The document suggests the ECB should use its secondary mandate to proactively support European environmental policies, specifically by using targeted long-term refinancing operations (TLTRO) to fund energy efficiency in Europe.

APA

Reclaim Finance (n.d.). From climate consciousness to climate action: leveraging the ECBs new strategy. https://reclaimfinance.org/site/wp-content/uploads/2021/07/Statement-ECB-climate-strategy-RF-GP-350-Koala.pdf

Chicago

Reclaim Finance. From climate consciousness to climate action: leveraging the ECBs new strategy. n.d. https://reclaimfinance.org/site/wp-content/uploads/2021/07/Statement-ECB-climate-strategy-RF-GP-350-Koala.pdf.

Wikipedia

{{cite press release |author=Reclaim Finance |title=From climate consciousness to climate action: leveraging the ECBs new strategy |url=https://reclaimfinance.org/site/wp-content/uploads/2021/07/Statement-ECB-climate-strategy-RF-GP-350-Koala.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{reclaimfinancendfrom, author = {{Reclaim Finance}}, title = {{From climate consciousness to climate action: leveraging the ECBs new strategy}}, publisher = {Reclaim Finance}, url = {https://reclaimfinance.org/site/wp-content/uploads/2021/07/Statement-ECB-climate-strategy-RF-GP-350-Koala.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }