November 22, 2019 / 2:24 PM / 20 days ago

ECB to look at climate concerns in policy review: Lagarde

European Central Bank (ECB) President Christine Lagarde attends the 29th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 22, 2019. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - The European Central Bank will tackle the question of the environmental sustainability of its bond-buying program 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 toward carbon-intensive assets”.

Reporting By Francesco Canepa; Editing by Balazs Koranyi

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