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Climate Lawsuit Targets ECB $320 Billion Bond-Buying Program

  • ClientEarth says Belgian central bank broke environment rules
  • Lawsuit in Brussels court is aimed at corporate bond buying

Photographer: Jonathan Nackstrand/AFP/Getty Images

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Environmental campaigners sued Belgium’s central bank, alleging its participation in a corporate bond buying program to help boost the euro-area’s economy is “fueling the climate crisis.”

ClientEarth filed the suit at Brussels’ French-speaking court of first instance last week, according to a phone interview and statement on Tuesday. The group is asking the Belgian court to stop corporate bond purchases which could require the European Central Bank to set tougher conditions on what companies central banks buy debt from.