The European Central Bank and Green Interaction. The Role of Christine Lagarde PDF Download

Author: Hanif Rahimy
Publisher: GRIN Verlag
ISBN: 3346410501
Category : Business & Economics
Languages : en
Pages : 47

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Book Description
Seminar paper from the year 2020 in the subject Economics - International Economic Relations, grade: 1,3, Carl von Ossietzky University of Oldenburg, language: English, abstract: This paper discusses the question, how Christine Lagarde wants to reorient the ECB's strategy and find answers to how the European Central Bank (ECB) could react to future developments such as climate change and if that is possible. In 2015, 190 parties have committed themselves to the Paris Agreement. This agreement aims to limit global warming to well below 2 degrees. Climate change is one of the greatest challenges of our time and many nations have drawn up their own climate protection plans to limit their emissions. However, since climate change is a global challenge, international cooperation is more effective, if not necessary. In December 2019, EU Commission President Ursula von der Leyen proved her commitment to environmental friendliness by announcing the European Green Deal in terms of which no more net greenhouse gas emissions are to be released in the EU by 2050. Von der Leyen is supported by the President of the European Central Bank (ECB) Christine Lagarde. But does the ECB commit ultra vires in the process?

Author: Harald J. Bolsinger
Publisher: Springer Nature
ISBN: 3031244788
Category : Business & Economics
Languages : en
Pages : 136

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Book Description
This book analyses the new strategic decisions of the European Central Bank. Contributors from different fields examine especially the sustainability strategy of the ECB: What role can the European Central Bank play in fighting climate change? ECB President Christine Lagarde has repeatedly confirmed that the central bank wants to play a role in coping with climate change. What will this role be? What instruments does the ECB have to make a difference in challenges such as the defossilization of the economy and transport, biodiversity, the energy transition, resource consumption and other sustainability areas? Is it entitled or obliged to go beyond the classic mandate of maintaining price stability? The volume includes contributions from academics and practitioners from the financial sector, civil society and institutions involved at European level.

Author: Harald Bolsinger
Publisher: Springer Nature
ISBN: 3030554503
Category : Business & Economics
Languages : en
Pages : 88

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Book Description
This book examines selected actions and investments of the European Central Bank (ECB) from a climate and sustainability standpoint. Shedding new light on the topic from various angles – ethical, philosophical, political, economical and legal – it situates sustainability mainstreaming in the finance and investment field at all levels. The former ECB President Mario Draghi once said that he considered sustainable development and an intact environment to be human rights, and therefore enshrined in the EU Charter of Fundamental Rights. The acting ECB President Christine Lagarde added that the future path for the climate is uncertain, but it would remain within our power to influence it. However, with all that in mind the ECB’s policy of buying assets as securities is often questionable. This volume analyzes these actions in connection with sustainability, and puts forward practical recommendations for improving the ECB’s investment strategy on its way creating a sustainable financial market.

Author: Andreas Dombret
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 3110752921
Category : Law
Languages : en
Pages : 278

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Book Description
The books deals with the questions that really matter for green finance: Where will the money to finance the transition to a low carbon environment come from, how far do the banks’ balance sheets stretch and where will the rest of the money come from? How much can we rely on the capital markets, especially in the EU, to get money to the parts of the economy which really need it, without greenwashing? How do governments organize not just a transition, but a just transition to a low carbon environment? Is it time to revisit received ideas about the proper role for central banks?

Author: Harald Bolsinger
Publisher:
ISBN: 9783030554514
Category :
Languages : en
Pages : 0

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Book Description
This book examines selected actions and investments of the European Central Bank (ECB) from a climate and sustainability standpoint. Shedding new light on the topic from various angles - ethical, philosophical, political, economical and legal - it situates sustainability mainstreaming in the finance and investment field at all levels. The former ECB President Mario Draghi once said that he considered sustainable development and an intact environment to be human rights, and therefore enshrined in the EU Charter of Fundamental Rights. The acting ECB President Christine Lagarde added that the future path for the climate is uncertain, but it would remain within our power to influence it. However, with all that in mind the ECB's policy of buying assets as securities is often questionable. This volume analyzes these actions in connection with sustainability, and puts forward practical recommendations for improving the ECB's investment strategy on its way creating a sustainable financial market.

Author: Nele Braun
Publisher: GRIN Verlag
ISBN: 3346392090
Category : Business & Economics
Languages : en
Pages : 57

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Book Description
Bachelor Thesis from the year 2020 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, University of Applied Sciences Darmstadt, language: English, abstract: To pursue a sustainable financial system, it will be essential to involve the financial sector, as well as its participants and authorities. This thesis discussed the role the European Central Bank could play in a transition towards a sustainable financial system. It outlined how climate-related risks can spread to the financial system and why central banks are concerned of them. While introducing possible instruments for a proactive role of the ECB in different policy areas, the thesis also pointed out the restrictions and risks of the ECB to engage. Next to the possible endangering of their institutional independence, the mandate of the ECB was investigated.

Author: Fiona Hauke
Publisher: Springer Nature
ISBN: 3658402423
Category : Business & Economics
Languages : en
Pages : 71

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Book Description
In this book, the author traces the emergence of the climate-related financial risks (CRFR) policy norm in central banking. During recent years, Central Banks (CBs) have increasingly started to care about climate change. This development is puzzling and has received surprisingly little scholarly attention so far. Why is it that CBs with a very narrow mandate like the ECB, start to tackle CRFR? What makes CBs adopt a new policy norm on climate change and sustainable development although this provokes discussions about their independence? Based on data collected through expert interviews triangulated with public sources, the author shows that the CRFR policy norm emerged in three steps. First, an epistemic community of think tanks and politically engaged academics framed the idea of CRFR and proposed a policy norm specifically focusing on CBs. Second, the epistemic community taught the CRFR policy norm to early-adopting CBs that acted as norm champions, which helped strengthen its social recognition in the central banking community. Third, the CRFR policy norm has been strengthened by activist campaigns demanding CBs to comply with the emerging new policy norm.

Author: Corrado Macchiarelli
Publisher: Springer Nature
ISBN: 3030443485
Category : Political Science
Languages : en
Pages : 197

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Book Description
​In light of the handover from the European Central Bank President Mario Draghi to Christine Lagarde in November 2019, this book provides an in-depth analysis of the events which unfolded since the euro area sovereign debt crisis in 2010 up until today. The book focuses on the far-reaching implications of the last decade, shedding light on a wide spectrum of political, economic and financial aspects of the European poly-crises and how monetary policy reacted to these challenges. The book places particular emphasis on the tensions that the supranational central bank was subject to during this period, and on their outcomes in terms of the policies, their legitimacy, and their public reception. As such, this book will be relevant not only to understand the political implications of the past crisis but also, and foremost, in understanding "what is next".

Author: Saloni P. Ramakrishna
Publisher: Walter de Gruyter GmbH & Co KG
ISBN: 3110757974
Category : Business & Economics
Languages : en
Pages : 362

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Book Description
Banks, like other businesses, endeavor to drive revenue and growth, while deftly managing the risks. Dubbed the next "frontier" in risk management for financial services, climate related risks are the newest and potentially the most challenging set of risks that banks are encountering. On the one hand, banks must show their commitment to becoming net zero and, on the other, help their customers transition to more sustainable operations, all this while managing climate-related financial risks. It is a paradigm shift from how the banking industry has traditionally managed risks as climate change risks are complex. They are multilayered, multidimensional with uncertain climate pathways that impact real economy which in turn influences the financial ecosystem in myriad ways. Climate Change Risk Management in Banks weaves the complete lifecycle of climate risk management from strategy to disclosures, a must-read for academics, banking professionals and other stakeholders interested in understanding and managing climate change risk. It provides much-needed insights, enabling organizations to respond well to these new risks, protect their businesses, mitigate losses and enhance brand value. Saloni Ramakrishna, an acknowledged financial industry practitioner, argues that given the uncertain and volatile climate paths, complex geopolitical patterns, and sustainability challenges, banks and business professionals will benefit from a wholistic approach to managing climate change risks. The book provides a blueprint and a cohesive framework for embracing and maintaining such an approach, in a simple and structured format.

Author: Mr. Dimitri G Demekas
Publisher: International Monetary Fund
ISBN: 1616356529
Category : Business & Economics
Languages : en
Pages : 45

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Book Description
There are demands on central banks and financial regulators to take on new responsibilities for supporting the transition to a low-carbon economy. Regulators can indeed facilitate the reorientation of financial flows necessary for the transition. But their powers should not be overestimated. Their diagnostic and policy toolkits are still in their infancy. They cannot (and should not) expand their mandate unilaterally. Taking on these new responsibilities can also have potential pitfalls and unintended consequences. Ultimately, financial regulators cannot deliver a low-carbon economy by themselves and should not risk being caught again in the role of ‘the only game in town.’