Economics
ECB Doubters Rebuff Green Loan Proposal Despite Lagarde Interest
- President told lawmakers green TLTROs are worth considering
- Colleagues concerned over feasibility, conflict with mandate
Photographer: Hannelore Foerster/Bloomberg
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A push for a European Central Bank green lending program to help the fight against climate change has run into skepticism despite attracting the interest of President Christine Lagarde.
Policy makers including Executive Board member Isabel Schnabel and Bundesbank chief Jens Weidmann are resisting a proposal by campaign group Positive Money to give banks long-term loans to finance environmentally friendly investments.