Jens Weidmann, President @bundesbank, in a letter to @finanzwende @urgewald: "I am convinced that #centralbanks can contribute more to addressing #climatechange than they did so far." (1/6)

"The #Eurosystem should, for example, in the context of #monetarypolicy, consider introducing climate-related transparency requirements for the issuers of securities it buys within its asset purchase programs, or accepts as collateral." (2/6)

"Moreover, accounting for climate-related risks in ratings could become a possible criterion in the decision which securities we purchase or accept as #collateral for refinancing operations." (3/6)

"Such a criterion would allow us to promote commensurate standards by #ratingagencies and banks, amongst whom we see a need to catch up." @DBRSMorningstar @FitchRatings @MoodysInvSvc @SPGlobalRatings (4/6)

"In addition, central banks could consider to apply analogous considerations to their internal ratings. They could, for example, downgrade the credit rating of issuers that lack transparency or face lower earnings outlooks due to elevated climate risks." (5/6)

The full letter in German is available here: https://www.finanzwende.de/fileadmin/user_upload/Dokumente/Antwort-Brief-Jens-Weidmann.pdf, the letter from @finanzwende and @urgewald that Jens Weidmann replied to here: https://www.finanzwende.de/fileadmin/user_upload/Dokumente/Brief_an_Weidmann_Finanzwende_Urgewald.pdf (6/6)