ECB OFFICIAL WARNS CLIMATE CRISIS POSES GROWING THREAT TO ‘CORE FINANCIAL STABILITY’

Exclusive: As wildfires rage, Frank Elderson says more work needed to assess risk from collapse of ecosystem services A senior policymaker at the European Central Bank has said the climate emergency and the breakdown… Frank Elderson, a member of the ECB’s executive board, said the eurozone lender of last resort was stepping up its monitoring of the financial risks linked to the destruction of “ecosystem services”, which are…

The Guardian reports that exclusive: As wildfires rage, Frank Elderson says more work needed to assess risk from collapse of ecosystem services A senior policymaker at the European Central Bank has said the climate emergency and the breakdown…

The report adds: Frank Elderson, a member of the ECB’s executive board, said the eurozone lender of last resort was stepping up its monitoring of the financial risks linked to the destruction of “ecosystem services”, which are…

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