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
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
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