The #EU wants to become climate neutral by 2050 and @Lagarde , the new head of the @ecb, has acknowledged the importance of green investments in combating the #climatecrisis. Still the financial policies of the ECB are in contrast to that.
A thread 1/10
#PeopleNotPolluters
Price stability is the most important task of the ECB: ecb.europa.eu/mopo/intro/obj…
The economic consequences of the climate crisis will be so devastating that this will be in danger in the long term. The ECB must therefore take responsibility + protect the climate! 🔥 2/10
The ECB sees itself as a neutral market participant and intends their purchases in a way, that the market gets equally represented and prevents market interferences. 3/10
But taken the sustainability goals of the EU seriously, a neutrality can’t be advocated. With such a policy, the status quo is being cemented, instead of tackling the urgent economic reforms. 💤 4/10
But even the antiquated dogma of being neutral to the market isn’t being uphold. The asset portfolio of the ecb shows higher carbon emissions then the #market, which wasn’t sustainable before anyway! This is why, @ReclaimFinance claims them of having an “anti-climate bias” 5/10
In their studies they show that 38 companies, that earn their money with fossil fuels, are being financed by the ECB. 63% of corporate asset purchases are being bought from companies with high CO2 emissions. 6/10
reclaimfinance.org/site/wp-conten…
One of these companies is @Fortum. Fortum is the largest shareholder from @uniper_energy, who just opened with #Datteln4 a new coal plant, in spite of Germany’s decided exit from fossil fuels and against the advice of the the coal commission. 😡 7/10
Further two companies who profit from the ecb policies are @Shell and @Total. Shell plans to increase the production of oil and gas of about 38% till 2030, Total an increase of 12%. 🤯 8/10 brightnow.org.uk/wp-content/upl…
More information to the human rights violations of Shell and Total and their criminal activities in the context of global warming can be found under: 350.org/european-centr… 9/10
We demand that the ECB stops funding companies, that make their money with fossil fuels or have further projects, that harm the climate!
@ecb, @Lagarde:
NO MONEY FOR THE KILLERS OF OUR FUTURE! 👊🔥🐨
10/10
#FightEveryCrisis #JustRecovery
Attachment: A new report of @Greenpeace comes to the same conclusion greenpeace.org/eu-unit/issues…
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.