Lagarde does not give up incorporating a 'green' credit facility

MADRID, 1 Jun. (EUROPA PRESS) -

The president of the European Central Bank (ECB), Christine Lagarde, has expressed the need to advance in the harmonization and homogenization of sustainability standards throughout the world, while she has assured that she does not give up having a 'green' credit facility ', even though it is not part of the central bank's mandate.

"Green lending facilities weren't on the cards a year ago. I'm not going to give that up," Lagarde said during her speech at the 'Green Swan' conference, organized by the Bank for International Settlements (BIS).

In this sense, the president of the ECB has recalled that this instrument to finance the green transition is already being examined by countries such as Japan or China. "Why wouldn't we have an open mind about it?" she has questioned her.

"I know it's not directly in the mandate and it's not necessarily what we see as the main goal, but if we don't try then we have no chance of succeeding, so count me in."

On the other hand, Lagarde has urged to advance as much as possible towards the harmonization and homogenization of sustainability standards, recognizing that, despite the positions of the United States and Japan, she trusts that the rules proposed by the International Standards Council for Sustainability (ISSB) serve at least as a guide and allow the greatest possible convergence.

Likewise, the President of the ECB has underlined the need to establish cooperation between the public and private sectors, which allows financing the development of technologies for the green transition, since around half of the technologies necessary to meet the objectives of Paris "have not yet been invented".