Central banks face legal risk over climate – ECB’s Elderson

NGOs could sue central banks for failure to take suitable action over climate change, says NGFS chair

Frank Elderson
Frank Elderson
Photo: Netherlands Bank

Central banks risk being sued if they do not take bolder action against climate change, Frank Elderson warned today (June 3).

“The risk of doing too little too late is significantly larger than the risk of central banks and supervisors overstepping their mandate,” the European Central Bank executive board member told a conference.

Elderson, who also chairs the Network for Greening the Financial System (NGFS), added that central banks must not overstep their mandate. But he warned there was

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account