ECB: Lagarde warns: "Costs of climate change are rising and shocks may be harder to cushion"
The consequences of climate change and their impact on financial and price stability are very close to Lagarde's heart. Before the start of the World Climate Conference, she issued an appeal to politicians.
ECB President Christine Lagarde has warned of the consequences of climate change amid a heatwave in Europe. She stated that the costs of climate change are rising and that future shocks may be harder to mitigate. Lagarde emphasized that extreme heat will occur more frequently and intensely, affecting those who are least able to cope.
She believes that Europe has the means to counter this trend and that it is a duty to future generations. The ECB has integrated climate considerations into its monetary policy and banking supervision under Lagarde's leadership.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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