The extraordinary fiscal policies swiftly adopted by governments have greatly limited the fallout from the recession. The European Union’s response has differed from the inadequate ones provided during the global financial crisis and subsequent sovereign debt crisis.
”, Climate  Policy, for a concrete proposal on how a tilting approach could be See Schoenmaker, D. (2021), “  Greening Monetary Policy  implemented in practice. 20. See also Lagarde, C. (2020), “Climate change and the financial sector”, 27 February. 21. See the ECB’s press release on 27 September 2021.