Nathan de Arriba-Sellier in Le Monde about the ECB’s new climate plan
On 19 July 2021, Nathan de Arriba-Sellier published an op-ed in Le Monde regarding the integration of climate change in the new monetary policy strategy of the European Central Bank (ECB).
Early July, the ECB released its new strategy, along with a climate change action plan, which sets a fresh orientation for monetary policy in the euro area. According to Nathan de Arriba-Sellier, a PhD Candidate of the Europa Institute and Erasmus University Rotterdam, the integration of climate change in the strategy represents a 'new start' for monetary policy.
For Nathan, the ECB’s decision recognises at last the influence of social and environmental changes over the functioning of the economy. It also signifies an official acknowledgement that the ECB’s mandate is about more than just price stability. As climate change will deeply disrupt our economies in the years and decades to come, the new monetary policy strategy is welcome. Although first concrete measures planned by the ECB display a limited ambition, they must be strengthened on par with European climate policies.
The op-ed in Le Monde is available here (in French). Nathan’s original scholarship on the relationship between finance and climate change was recently published in the Common Market Law Review, see here.