ECB Officials Consider Climate Leap For Corporate Bond Program
- French governor wants to ‘tilt’ ECB purchases of company debt
- Consideration of climate in monetary policy is an ‘imperative’
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European Central Bank policy makers are airing their boldest views yet on how to introduce climate criteria for their corporate bond-buying program, opening a new front in a controversial debate over how to make monetary policy greener.
Speaking at a conference on climate finance in Paris, Bank of France Governor Francois Villeroy de Galhau argued for “decarbonizing the ECB’s balance sheet in a pragmatic, gradual and targeted manner for all corporate assets, whether they are held on the central bank’s balance sheet or taken as collateral.”