What about green central banking? – op-ed in Green Central Banking
Last week the ECB announced its new policy of ‘going green’. How can a conventional central bank do this? Only by discriminating against bonds and equities issued by companies damaging the environment that it accepts as collateral, or which it buys, in return for loans ‘greening’ its purchase/acceptance policy. Is ‘green central banking’ a move in the right direction? Or is it a sign of desperate times?
The very fact we’re discussing the idea of green central banking is a reminder that we live in desperate times. It demonstrates that good people, who care passionately about the green transition, have given up hope of living in functioning democracies willing and able to pursue our common interest.
Since the 1970s, our Western regimes have adopted the mantle of central bank independence. Independence from what? From grubby politicians eager to use the central bank’s
— source yanisvaroufakis.eu | Yanis Varoufakis | 10/07/2021