Bloomberg Businessweek

Greening Europe’s Monetary Policy

“The question is no longer ‘if’ but ‘how’ we can play an active role in the fight against climate change”

The pandemic could easily have derailed Christine Lagarde’s plan to enlist the European Central Bank in the fight against climate change. Only she won’t let it. “It’s a topic that I am very keen about, which I believe has a systemic dimension,” she told journalists after the ECB’s Sept. 10 monetary policy meeting.

Lagarde made battling global warming a defining feature of her eight years as managing director of the International Monetary Fund, warning that humanity would be “roasted, toasted, fried, and grilled” if it failed to act. She reiterated that message as she vied to become the ECB’s

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