Climate and Nature Plan 2024-2025

In terms of monetary policy, the ECB aims to enhance its understanding of climate-related risks and their impact on price stability. It plans to incorporate climate-related factors into its economic models and analytical frameworks, enabling it to better assess the implications for monetary policy decisions.

To manage its own environmental footprint, the ECB aims to reduce its carbon emissions and increase energy efficiency. It plans to implement measures such as improving the energy efficiency of its buildings and increasing the use of renewable energy sources. The ECB also seeks to minimize its ecological impact by addressing biodiversity loss and promoting sustainable practices in its procurement processes.

The ECB recognizes the importance of promoting sustainability in the financial system. It aims to actively contribute to the development of sustainable finance standards and frameworks, collaborating with other central banks and international organizations. The ECB plans to integrate climate and environmental risks into its risk assessment frameworks and explore ways to support the integration of sustainability considerations by financial institutions.

EU 2040 climate target:

MEPs to debate with CommissionIn a significant move towards addressing climate change, the European Union is set to debate its climate targets for 2040. Members of the European Parliament (MEPs) will engage in discussions with the Commission to establish ambitious goals for reducing carbon emissions and promoting sustainable practices. The outcome of these deliberations will have a profound impact on the EU’s environmental policies and its commitment to combatting climate change in the coming decades. This critical debate underscores the EU’s determination to lead the way in fostering a greener and more sustainable future.