I am confident that the outcome of the ECB’s monetary policy strategy review will enhance the effectiveness of our monetary policy and thus also support the attainment of sustainable growth and full employment.4 Let me finish here. Thank you for your attention and I look forward to our panel discussion and your questions. 1  See e.g. Lenza, M. and J. Slacalek (2020).
[4] However, overall emissions continue to be improperly priced, implying that economic activity – including the flow of finance – remains biased in favour of high-emission activities. Besides the gap in carbon pricing, a second gap is that capital markets are not playing their potential role in supporting the green transition. ECB research shows that stock markets can strongly encourage investment in greener technologies.