Finance
Europe’s Central Banks Ramp Up Support for Greener Economy
- BIS launches second green investment fund for central banks
- ECB to form new climate change center to coordinate work
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Europe’s central banks are ramping up their efforts to support green finance as authorities contemplate how to fight climate change while rebuilding their economies after the pandemic.
The latest initiative includes a fund launched by the Bank for International Settlements for green-bond investments by central banks. The European Central Bank committed to buy into the initiative on Monday, and announced it will form a climate change center to coordinate work on the topic within its own institution.