Euro Central Banks Set Climate-Friendly Investment Regime
Law360, London (February 4, 2021, 5:04 PM GMT) -- European central banks have committed to making environmentally responsible investment decisions with their own funds, the European Central Bank said Thursday, amid a broader regulatory push toward climate-friendly finance.
The ECB said itself and 19 other national central banks within the Euro currency union have adopted a "common stance" on sustainable investment strategies, which will apply to non-monetary policy portfolios.
The move comes as commercial banks within the bloc are coming under increased regulatory scrutiny over failures to take climate risks into account when investing, or properly disclosing those risks to their own investors.
The ECB said the decision for central...
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