ECB Official’s Climate Comments Draw Rebuke From Staff Committee

European Central Bank staff said they were “shocked” by remarks by one of the institution’s top officials on how to approach climate change, urging President Christine Lagarde and her colleagues to rethink their leadership style.

The ECB’s staff committee sent a letter dated Feb. 28 to institution’s top management after Executive Board member Frank Elderson — speaking at an internal event — questioned why the central bank would hire people “whom we have to reprogram because they came from the best universities, but they still don’t know how to spell the word ‘climate’.”