The Eurosystem is independent. When performing Eurosystem-related tasks, neither the ECB, nor a national central bank, nor any member of their decision-making bodies may seek or take instructions  2  BIS Review 40/2004  from any external body. The Member States and the Community institutions and bodies, in turn, may not seek to influence decision makers in the Eurosystem (Art. 108 EC Treaty).
Based on what I’ve seen so far, I believe that placing an outsized focus on climate-related risks is not needed, and the Federal Reserve should focus on more near-term and material risks in keeping with our mandate. - 10 I’d be happy to take a few questions. - 11 -  References Acharya, Viral V., Timothy Johnson, Suresh Sundaresan, and Tuomas Tomunen. 2022.