Research Archive
Low Carbon Allocation in the Implementation of Monetary Policy
This paper reviews monetary and macroprudential tools, such as targeted green refinancing, that the ECB can use to speed up the green transition while maintaining price stability.
Facilitating the Transition to Net Zero and Institutional Change at the Bank of England
The Bank of England’s new environmental remit has not catalysed the bold change to monetary policy needed to meet net-zero targets, say political economists in this paper.
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.
Why the Fed and ECB Parted Ways on Climate Change
According to this study, a supportive domestic environment enabled the European Central Bank to emerge as a leader in climate policy, while the Federal Reserve lags behind.
Toward a Green Economy
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.
Central Banks and Climate Change
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.
Developing a Precautionary Approach to Financial Policy
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.
Climate Roadmap: Now What?
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.
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