Climate action
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The ECB has developed a climate action plan.
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The Bundesbank procured data on companies’ climate impacts, to be used by eurosystem central banks to green their balance sheets, and to support their regulatory functions.
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The ECB has launched a climate stress test.
Climate inaction
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The Bundesbank has historically opposed climate action by the ECB.
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The eurosystem’s corporate bond purchases and collateral framework have been found to have a carbon bias.
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The Bundesbank has yet to apply climate criteria in its own investments.