Flashback - ECB’s Lagarde: Climate Change Requires Us to Redesign the Entire Economy and Financial System, in Line with the ‘Green’ Net Zero Transition

Lagarde Floods droughts and ░░░░░░░░ last year were just ░░░░░░░░ preview of what is ░░░░░░░░ come A hotter climate ░░░░░░░░ nature loss are changing ░░░░░░░░ economy and our financial ░░░░░░░░ At the ECB we ░░░░░░░░ understand this change to ░░░░░░░░ financial stability and to ░░░░░░░░ our price stability mandate ░░░░░░░░ our new climate and ░░░░░░░░ plan we focus on ░░░░░░░░ following three things first ░░░░░░░░ green transition second the ░░░░░░░░ physical impact of climate ░░░░░░░░ and third the risks ░░░░░░░░ nature loss and degradation ░░░░░░░░ will study the impact ░░░░░░░░ the economy and the ░░░░░░░░ system This will help ░░░░░░░░ improve our own models ░░░░░░░░ will also work to ░░░░░░░░ our carbon footprint in ░░░░░░░░ we do from banknotes ░░░░░░░░ how we supervise banks.”