United States. – Lagarde is confident that America’s new position on climate will accelerate standardization of regulations

Madrid, 25 (Europa Press)

Following Joe Biden’s arrival at the White House, the United States’ withdrawal of the Paris Agreement provides an “unprecedented” impulse that we expect to accelerate work to standardize valid criteria for the disclosure of climate risks. . In the applicable taxonomy vis-à-vis institutions and companies, as stated by Christine Lagarde, President of the European Central Bank (ECB).

The central banker said, “The United States withdrawal under the new administration of the Paris Agreement has had an unprecedented impact and almost immediately, they have changed course on a range of issues, including climate change.” Euro Zone at an event organized by Bank for International Settlements (BIS).

In this sense, Legaard outlined the “great signaling effect” behind a goal representing the world’s largest economy, so he is confident that, after the return of the United States, such issues were more swift. It would be possible to move beyond the standardization of disclosures or classifications.

In this sense, the French have assumed that there is currently a lot of uncertainty about the validity and authenticity of the disclosures in terms of sustainability and a lot of discussion about what the applicable standards will be, who will be in charge of implementing them and who will monitor .

Similarly, the Chairman of the ECB has reiterated that, although issues like climate change are not the primary responsibility of central banks, “no one can be left out,” so she considers it necessary for every entity and institution to do what Can do. What to do and how to do it.

As such, he recalled that the ECB addressed this issue in its current strategic review and highlighted that, although central bankers are usually associated with conservative positions, innovation is part of the DNA of these institutions.

“When we look at the previous financial crisis or the Kovid-19 crisis, there has been a lot of innovation in the way we achieve our goals and I think this kind of innovation in central bankers opinion on their instruments or other matters is purely Can implement. Like climate change “, he pointed out.