Greenpeace protests ECB loans for carbon heavy industries

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An activist from the environmental organization Greenpeace flies with a motorized paraglider in front of the European Central Bank in Frankfurt, Germany on Wednesday, March 10, 2021. Two activists land on the roof of a side building and unfurled a banner in protest. the ECB’s climate policy. (AP Photo / Michael Probst)

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FRANKFURT, Germany (AP) – Greenpeace activists landed on the roof of a European Central Bank building on Wednesday to drop a banner protesting the financial institution’s lending policy, which climate activists say favors highly polluting industries.

The activists used a motorized paraglider to reach the roof of the reception building of the ECB headquarters in Frankfurt before unfurling their banner reading “Stop funding the climate killers”.

Greenpeace said a recent study showed that the bank gives companies that produce large amounts of greenhouse gases better risk ratings, while climate-friendly industries have a greater margin between the market value of their assets and the value assigned to them by the ECB.

The environmental group accused the bank of “systematically undermining climate protection.”

The ECB confirmed the activists had landed on its roof and said police had been called.

“Climate change is one of the biggest challenges facing humanity this century,” the bank said. “The ECB is contributing to the response as part of its mandate as a central bank, acting in tune with those responsible for climate policy. “

The ECB said it was “carrying out a review of its strategy which includes an in-depth analysis of how to respond to the climate crisis in all policy areas of the ECB”.

The bank said earlier this year that it is setting up a dedicated unit to coordinate action against climate change across its work.

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Follow all of AP’s climate change stories at https://apnews.com/hub/climate.


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