The President of the European Central Bank, Mrs Christine Lagarde said in the banks press conference that the Climate Change is a financial risk and that the Central Bank will also review its tools and guidelines for climate risk management in its monetary strategy review during this year.
-Climate Change is everybody’s responsibility, she said in Frankfurt on Thursday.
According to her, the Central Bank started its year long strategy review regarding the monetary policy, inflation target setting, growth measures and communications. Climate Change is a big issue, related also the ESG criterias (environmental, social and governance) and according to Mrs Lagarde, the Central Bank will have to measure the monetary policy portfolio also for this risk assessment and forecast in the future.
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