The European Central Bank will gradually decarbonize its portfolio of 350 billion euros of corporate bonds.
It’s the end of a taboo at the European Central Bank (ECB). Since the arrival of Christine Lagarde at its head almost three years ago, the monetary institute has never ceased to promise to embrace the fight against climate change. But in practice it came up against a dogma: respect for the principle ofmarket neutrality in whose name his bond investments were supposed to reflect the fabric of the economy as it is. Even if it means holding the titles of polluters like Shell or Total, large emitters of both carbon and debt, in contradiction with this green ambition.
A turning point has been reached with the announcement on Monday of a reorientation of this policy. “With these decisions, we are translating our commitment to the fight against climate change into action.“, welcomes Christine Lagarde.
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Concretely, from October, the ECB will “gradually decarbonize» its investments in corporate bonds. It concerns…
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