We will start conducting climate stress tests of the Eurosystem balance sheet in 2022 to assess the Eurosystem’s risk exposure to climate change, leveraging on the methodology of the ECB’s economy-wide climate stress test. We will also consider relevant climate-change risks when reviewing the valuation and risk control frameworks for assets mobilised as collateral by counterparties for Eurosystem credit operations.
2/3  BIS central bankers' speeches  And we will adjust the framework guiding the allocation of corporate bond purchases to incorporate climate change criteria, in line with our mandate. Our actions regarding climate change also extend beyond monetary policy operations. The ECB has committed itself to reducing its own carbon footprint in line with the Paris Agreement.