ECB Aiding ‘Climate Chaos’ Via Emergency QE, Campaigners Say
- ECB is buying bonds from Shell, Total: Reclaim Finance
- Villeroy calls for policy models to factor in climate change
The European Central Bank (ECB) headquarters stands in Frankfurt, Germany, on April 29.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
The European Central Bank’s emergency stimulus program is endangering the region’s climate-change objectives by “feeding a natural gas frenzy,” according to environmental campaigners.
The central bank is buying bonds from fossil-fuel project developers including Royal Dutch Shell Plc, Total SE and Engie SA, Paris-based Reclaim Finance said in a statement. On Friday, Bank of France Governor Francois Villeroy de Galhau called on the ECB to incorporate climate change into its economic models within five years.