5 000 billion euros, no environmental string attached. The European Central Bank (ECB) is pumping a good chunk of this baffling sum into big polluters, like Shell and Total.
But, one person could change everything: François Villeroy de Galhau, the governor of the French central bank. He sits at the European Central Bank and claims he wants to make it a “pioneer in the fight against climate change”.
Yet, this laudable ambition seems to be nothing but lip service: the governor plans on waiting another “3 to 5” years to turn his words into action!
Our planet can’t wait that long. Let's drive M. Villeroy de Galhau to put his foot down:
Mr Governor, do not wait 5 years to act: push the ECB to immediately stop supporting companies destroying the environment!
Two months ago, you called on governor Villeroy de Galhau to stop investing in coal, shale oil and gas. He listened to you and, last week, he adopted new drastic exclusion measures!
While the French central bank recognizes the need to act without delay in France, it digs its heels in at the European level.
This is totally inconsistent. Instead of using his influence at the ECB, the governor decides to… do literally nothing.
Together, we can push him into action once again.
Mr Governor, the Covid crisis is striking Europeans hard, and they refuse to also pay the price for big polluters. Don’t make them go through two crises at once:
Ask the ECB to ban polluters once for all!
More than 167 000 Europeans already called on the ECB to stop funding climate chaos. The Banque de France has a unique opportunity to support your demands and uphold hopes of a fairer and more sustainable future.
Call on the French central bank to put its words into actions. European monetary policy should support the fight against the climate crisis and for social progress, not stand by a system based on carbon emissions and inequalities.
Mr Governor, we can’t wait any longer: urge the ECB to decarbonize Europe by abandoning fossil fuels!