6/29, 4:28 PM (Source: TeleTrader)
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Lagarde: Euro became global currency for green finance

The President of the European Central Bank Christine Lagarde stated on Tuesday during the Brussels Economic Forum that the euro has taken the lead as the global currency of green finance as half of all green bonds in the world were issued in the European currency.

"The pandemic has accelerated pre-existing trends at a pace we could never have imagined. [...] Having accepted tough restrictions to fight the pandemic, 70% of Europeans are now in favour of stricter government measures to fight climate change," Lagarde said.

Lagarde noted that to achieve Europe's climate and green energy targets public and private sectors need to invest around €330 billion annually until 2030 and an additional €125 billion towards digitalization.

Breaking the News / LH