Politics
ECB Converges on Green Policy as Activists’ Patience Wears Thin
- Policy makers are honing ideas on greener monetary policy
- Concrete steps could take years to become operational
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European Central Bank officials are finally building a consensus about how they might start delivering on President Christine Lagarde’s ambition to combat climate change.
After more than a year of debate about how to reconcile her push with the institution’s price-stability mandate, policy makers are closer to finding common ground. Rather than the controversial option of actively choosing to buy greener bonds, they’re likely to take account of the financial risks of carbon-intensive industries in their purchase programs.