Greenpeace protests ECB loans to carbon-intensive industries

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

Activists used a motorized paraglider to reach the roof of the reception building at the ECB’s headquarters in Frankfurt before unfurling their “Stop funding climate killers” banner.

Greenpeace said a recent study showed that the bank gives companies that produce large amounts of greenhouse gases higher risk scores, while climate-friendly industries are burdened with 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 greatest challenges facing humanity in 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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