We have to understand better how this issue will change the way the economy works so we can adapt our monetary policy accordingly. It is not for the ECB to encourage particular investment decisions which are carbon-saving to a greater or lesser degree or which form part of this or that policy.
To do so would be to cross the line between monetary and economic policy and give way to the fascination I mentioned earlier. And yet we can see clearly that there are very deep political disagreements which the ECB cannot settle, on the energy mix, the terms of the ecological transition, etc.