Greenpeace protests ECB loans to heavy carbon industries – The New Indian Specific
FRANKFURT: Greenpeace activists landed on the roof of a European Central Financial institution constructing on Wednesday to drop a banner protesting the monetary establishment’s lending coverage, which local weather activists say favors industries closely polluting.
Activists used a motorized paraglider to succeed in the roof of the reception constructing on the ECB’s headquarters in Frankfurt earlier than unfurling their “Cease funding local weather killers” banner.
Greenpeace stated a current examine confirmed that the financial institution provides firms that produce massive quantities of greenhouse gases greater threat scores, whereas climate-friendly industries are burdened with a larger margin between the market worth of their property and the worth assigned to them by the ECB.
The environmental group accused the financial institution of “systematically undermining local weather safety”.
The ECB confirmed the activists had landed on its roof and stated police had been referred to as.
“Local weather change is likely one of the greatest challenges dealing with humanity on this century,” the financial institution stated. “The ECB is contributing to the response as a part of its mandate as a central financial institution, appearing in tune with these answerable for local weather coverage.”
The ECB stated it was “finishing up a evaluation of its technique which incorporates an in-depth evaluation of how to answer the local weather disaster in all coverage areas of the ECB”.
The financial institution stated earlier this 12 months that it’s establishing a devoted unit to coordinate motion in opposition to local weather change throughout its work.