Accounting for climate change within central bank and banking supervision mandates

Frank Elderson, Executive Board member and vice-chair of the Supervisory Board of the European Central Bank, spoke at the Peterson Institute for International Economics, followed by a discussion with the audience moderated by PIIE senior fellow Nicolas Véron.

The European Central Bank is adapting its policies to account for the EU objective of leading the global fight against climate change, both as a monetary authority and as a banking supervisor, while staying within its mandate of price stability and ensuring banking sector safety and soundness.