No doubt, at this moment the first priority of governments is halting the spread of the COVID-19 virus. That having been said, the climate crisis has not just suddenly disappeared. The droughts, the floods, the fires, the famine, the refugees, biodiversity loss: unfortunately they are all still there.
The European Green Deal and national initiatives to finance the ecological transition could add to these dynamics by contributing to stronger and more sustainable growth. Thinking long-term because the future starts now The European Parliament’s draft resolution on the ECB’s Annual Report highlights three structural developments affecting the ECB’s operating environment: digitalisation, climate change and the institutional architecture of Economic and Monetary Union.