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Lessons From the Pandemic Add Urgency to ECB’s Focus on Climate
The speed of the social and economic destruction wrought by the coronavirus pandemic is spurring central bankers to accelerate and expand their efforts to fight climate change. After spending the past three months focusing on battling the deepest recession in peacetime, the issue is moving back up policy makers’ agenda, with a flurry of initiatives from Frankfurt to London and Amsterdam. They’ve reemphasized the long-term economic damage of global warming, and are pushing banks to be ready for the threats to their business that will inevitably appear. “The corona-pandemic has refocused our minds -- it shows how ... (full story)