Central banks are lagging behind the curve and have only just started incorporating the effects of climate change into their models, European Central Bank (ECB) policymaker Benoit Coeure said on Thursday.
“Central banks cannot be at the forefront in fighting climate change,” Coeure further argued. “It takes time – we often say around two to three years, in some cases maybe more – for our decisions to affect prices.”
These comments had no impact on the shared currency’s market valuation and the EUR/USD pair was last seen trading at 1.1007, adding 0.08% on the day.
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