ECB’s Lagarde urges more green finance | Malay Mail

📆 10/14/2020 3:34 PM
📰 malaymail

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FRANKFURT, Oct 14 — European Central Bank head Christine Lagarde today said there should be a greater push to invest in “green” projects if countries are serious about meeting their climate protection goals. “There is not enough finance going in the green direction,” Lagarde told an...

The former French finance minister said the European Union would need to invest €290 billion each year to meet its commitments under the 2015 Paris climate agreement. — AFP pic

The former French finance minister said the European Union would need to invest €290 billion each year to meet its commitments under the 2015 Paris climate agreement.A lack of clear criteria for green bonds also makes it hard for investors to discern just how environmentally friendly an investment is, she said.

The ECB describes green bonds as those “earmarked to finance investment projects with an environmental benefit”, as opposed to bonds linked to carbon-intensive industries or other “brown” sectors that contribute to global warming.

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