If you had a magic wand, would you use it to stop the climate crisis?
Jens Weidmann wouldn’t. Instead of using trillions of euros the European Central Bank allocated for Covid response to help transform Europe into a sustainable and green economy, the head of the German Central Bank wants to keep sinking money into big polluters like Shell and Total.
Solving the Covid crisis by fueling the climate crisis -- that’s a bad deal.
But it’s not too late. After growing public pressure from tens of thousands of Europeans like you, the French Central Bank and even the European Central Bank’s president, Lagarde, admitted that central banks have to take climate effects into account.
Weidmann is increasingly isolated -- and with your help today, we can up the pressure even more and get him to stop blocking the European green recovery.
Europe’s politicians have made a clear commitment: They want to keep global warming at 1.5°C, reduce GHG emissions by 50-55% by 2030 and reach carbon neutrality by 2050. To achieve this goal, all EU institutions need to work hand in hand -- including the Central Bank.
Jens Weidmann is right in saying “Central banks cannot solve climate change on their own.” But he’s refusing to do the minimum and blocking climate objectives. Weidmann, and the Central Banks, need to play their part in preventing the biggest threat humanity has ever faced.
Together with hundreds of thousands of Europeans including partner organisations, scientists and politicians, you have been fighting for a Green Europe for years -- and we have come a long way. We pushed the EU to pass stricter laws on green investments, and we put climate change at the top of the ECB’s agenda. Let’s do it again and put the pressure on Bundesbank president Jens Weidmann.
Tell Jens Weidmann to stop blocking a green recovery for Europe!
More information
Quantitative easing & climate: The ECB’s dirty secret
Reclaim Finance. 17 May 2020.
Reclaim Finance. 17 May 2020.
Central banks cannot solve climate change on their own
Bundesbank. 19 November 2020.
Bundesbank. 19 November 2020.
