Pressure has been mounting on the European Central Bank over its purchases of certain corporate bonds, but new research shows no change. In its mission to stimulate the economy, it is still purchasing climate-harming bonds.
Despite the serious concerns raised by a broad political spectrum in the European Parliament and from 76 NGO’s, the European Central Bank sticks to its guns. There is to be no significant transparency about its purchases of corporate bonds, and certainly no change in its approach to selection of investments. Updated information about the holdings of the ECB show no hesitation in supporting fossil fuels. Despite the obvious clash with the EU’s obligations on climate change, transparency and accountability in the bond purchasing programme remain absent.
More information in the analysis of Corporate Europe Obsveratory on the CSPP.