Research Archive

The sun, seen through a canopy of leaves and branches
Research| March 9, 2023

Toward a Green Economy

The Role of Central Bank’s Asset Purchases

In this paper published by the European Central Bank, economists analyse the efficacy of green quantitative easing and find that it would be most effective for reducing emissions if used aggressively and immediately.

Written by European Central Bank
A row of digniatires holding hands with their arms raised at the Paris Cop meeting in 2015
Research| September 7, 2022

The ECB Paris Gap: Substantive but Treatable

This report proposes that the European Central Bank align with its primary and environmental mandates by adopting climate neutrality principles and increasing the scope and urgency of its decarbonisation plans.

Written by Greenpeace, SOAS, University of Greenwich, University of the West of England
The sun, seen through a canopy of leaves and branches
Research| August 12, 2022

Greening Collateral Frameworks

This paper from the Inspire research network argues that central banks should adjust their collateral frameworks based on the environmental impacts of the assets put forward.

Written by Inspire & LSE Grantham Institute
Research| August 8, 2022

Climate Change Versus Price Stability

The Role of the EU Parliament in the ECB’s Green Shift

This study from Positive Money Europe analyses the role of the European Parliament in influencing ECB actions on climate change. …

Written by Positive Money Europe
A golden statue of Lady Justice against a blue sky
Research| May 13, 2022

Central Banks and Climate Change

Fit, Opportunity and Suitability in the Law and Beyond

This paper and an accompanying blog post use a systematic methodology and legal perspective to analytically address mandate, independence and other objections to greater central bank action on climate change.

Written by European Banking Institute
A pair of rhinoceros iguanas
Research| May 10, 2022

Developing a Precautionary Approach to Financial Policy

From Climate to Biodiversity

This peer-reviewed policy brief outlines the limitations of a risk-based approach to the radical uncertainty of climate change and biodiversity loss, advocating a precautionary approach and mindset.

Written by Inspire
Road sign saying 'Electric vehicle charging only'
Research| April 26, 2022

Climate Roadmap: Now What?

Next Steps for the ECB to Support the Low-Carbon Transition

This policy document from 17 major civil society groups outlines four core principles and five key recommendations on how the ECB can accelerate its climate action and reduce fossil fuel inflation.

Written by Positive Money Europe and others
Research| February 1, 2021

Why and How the ECB Should Go Beyond Market Neutrality

This policy brief shows how the principle of market neutrality clashes with the ECB’s commitments on climate change.

Written by Positive Money Europe
Research| October 22, 2020

Decarbonising Is Easy: Beyond Market Neutrality in the ECB’s Corporate QE

This analysis of the ECB’s CSPP finds that market neutrality causes significant bias towards carbon-intensive sectors.

Written by New Economics Foundation, Greenpeace, SOAS, University of Greenwich and UWE Bristol
Research| October 17, 2020

Central Bank Market Neutrality is a Myth

The idea that the monetary policy portfolios of central banks can be market neutral is comprehensively dismantled in this article. 

Written by Council of Economic Policies

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