November 22, 2019 / 2:18 PM / 23 days ago

ECB to look at climate concerns in policy review: Lagarde

FRANKFURT, Nov 22 (Reuters) - The European Central Bank will tackle the question of the environmental sustainability of its bond-buying programme during its upcoming policy review, ECB President Christine Lagarde said in a letter published on Friday.

“The intended review of the ECB’s monetary policy strategy and operational framework under the given Treaty mandate will constitute an opportunity to reflect on how to address sustainability considerations within our monetary policy framework,” Lagarde said in the letter dated Nov 21.

She was responding to a member of the European Parliament, who cited research as showing the ECB’s purchases of company bonds were “significantly skewed towards carbon-intensive assets”. (Reporting By Francesco Canepa Editing by Balazs Koranyi)

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