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For Immediate Release

Press Release

Survey Reveals Overwhelming Demand for European Central Bank To Act on Climate Crisis

NEW YORK -

While the European Central Bank (ECB) Governing Council meet again today to discuss their response to the Covid-19 crisis, and as the central bank goes through its “strategy review” (1), Europeans overwhelmingly expressed their support to reforms pushing the ECB to stop supporting polluters (2) and take concrete action to address the climate emergency.

In a new NGO-led survey completed by more than 24,000 Europeans, 81% of respondents (3) said that climate, environmental and social issues should be the highest priority of the central bank. Almost 100% of respondents want the ECB to pay more attention to these topics.

The survey was designed to allow Europeans to easily give their state of mind on key ECB strategy review topics.

“This survey gave tens of thousands of people an opportunity to express their views on the ECB’s strategy review as the bank hides behind its own complex and inaccessible consultation process (4) that only serves to delay real action to tackle the climate crisis. The results demonstrate that Europeans want their central bank to act for, not against, climate justice and to help deliver a fairer economy as it responds to the impacts of Covid-19.” said Nick Bryer, Campaigner at 350.org.

79% of respondents consider that they are not sufficiently informed of the ECB’s actions. Almost all of them support more transparency through both the adoption of clear environmental, ethical and social criteria and the disclosure of detailed information, including climate and environmental information.

“People don’t want to go back to “normal”, if “normal” means for the ECB to keep denying the climate emergency and strengthening inequalities running deep in our societies. The ECB can no longer brush aside Europeans’ environmental and social concerns, and has to work in a transparent and truly inclusive way. The ECB has to set clear environmental, ethical and social criteria, starting by excluding fossil fuel companies—and companies involved in the production of deadly weapons and human rights violations—from its asset purchases. We want policies that will benefit the people and our planet.” said Leyla Larbi, SumOfUs Senior Campaigner. 

More than 138,000 people (5) are calling on the ECB to immediately end its support to polluters having signed a petition drafted by SumOfUs, 350.org and Reclaim Finance.

“Climate and people won’t be protected with words. The ECB’s confession that its asset purchases must be reconsidered in face of the climate emergency (6) does not matter if the ECB keeps ignoring the peoples’ demand to keep fossil fuels in the ground and avoid taking action until the end of its strategy review. If we want to prevent €1.7 trillion in asset purchases (7) from supporting polluters, including major fossil fuel companies like Shell and Total,  in 2020-2021, we need action now.” said Paul Schreiber, Campaigner at Reclaim Finance. 

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350 is building a future that's just, prosperous, equitable and safe from the effects of the climate crisis. We're an international movement of ordinary people working to end the age of fossil fuels and build a world of community-led renewable energy for all.

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