ECB calls on businesses to accelerate green transition in the face of climate change risks to the economy

Companies need to invest €2 trillion over the next two years if they want to achieve climate goals by 2030

ECB Vice-President Luis de Guindos has no doubts: “We need more decisive policies to ensure a faster transition to a net-zero economy in line with the goals of the Paris Agreement. Moving at the current pace will increase risks and costs to the economy and the financial system. There is a clear need to accelerate the road to Paris.” He said this Wednesday in Frankfurt, during the presentation of the results of the second stress test of the economy to climate stress carried out by the European Central Bank.

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