Greenpeace: ECB has broken climate pledge

“The ECB should start selling bonds of weak climate performers and buying bonds of strong climate performers,” Greenpeace said. — Reuters

FRANKFURT: Activist group Greenpeace says the European Central Bank (ECB) has broken a pledge to join the fight against climate change and should take more steps to clean up its huge portfolio of bonds, such as ditching companies that pollute the most.

The ECB started steering its corporate bond purchases towards “greener” issuers last year, but that came to a virtual standstill this month as the bank, worried about runaway inflation, stopped its flagship debt-buying programme altogether.