{"title":"文章:欧洲央行的企业债券去碳化计划","authors":"Jolien De Troyer, Koen Bytebier","doi":"10.54648/eulr2024010","DOIUrl":null,"url":null,"abstract":"This article explores the European Central Bank’s (ECB) pioneering approach to incorporating climate considerations into its monetary policy operations, using a climate scoring model. The ECB aims to reduce climate-related financial risks and encourage greener practices. The background section discusses the post-2015 Paris Agreement context and the ECB’s Climate Agenda, while highlighting the controversies surrounding its quantitative easing programs.The core of the article examines the ECB’s decarbonization strategy for corporate bonds, which involves a scoring model based on three sub-scores: backward-looking emissions, forward-looking targets, and climate reporting/disclosure. This model is expected to incentivize companies to reduce their carbon footprint and improve disclosures.The article concludes by emphasizing the ECB’s commitment to climate change mitigation but suggests a broader need for a reevaluation of the monetary system to prioritize public interest and address pressing global issues more effectively.\nBonds, ECB, decarbonization, Climate Agenda, Eurosystem, climate scoring, monetary policy","PeriodicalId":53431,"journal":{"name":"European Business Law Review","volume":"48 4","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Article: The ECB’s Decarbonization Plan for Corporate Bonds\",\"authors\":\"Jolien De Troyer, Koen Bytebier\",\"doi\":\"10.54648/eulr2024010\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This article explores the European Central Bank’s (ECB) pioneering approach to incorporating climate considerations into its monetary policy operations, using a climate scoring model. The ECB aims to reduce climate-related financial risks and encourage greener practices. The background section discusses the post-2015 Paris Agreement context and the ECB’s Climate Agenda, while highlighting the controversies surrounding its quantitative easing programs.The core of the article examines the ECB’s decarbonization strategy for corporate bonds, which involves a scoring model based on three sub-scores: backward-looking emissions, forward-looking targets, and climate reporting/disclosure. This model is expected to incentivize companies to reduce their carbon footprint and improve disclosures.The article concludes by emphasizing the ECB’s commitment to climate change mitigation but suggests a broader need for a reevaluation of the monetary system to prioritize public interest and address pressing global issues more effectively.\\nBonds, ECB, decarbonization, Climate Agenda, Eurosystem, climate scoring, monetary policy\",\"PeriodicalId\":53431,\"journal\":{\"name\":\"European Business Law Review\",\"volume\":\"48 4\",\"pages\":\"\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2024-02-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"European Business Law Review\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.54648/eulr2024010\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"Social Sciences\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"European Business Law Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.54648/eulr2024010","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Social Sciences","Score":null,"Total":0}
Article: The ECB’s Decarbonization Plan for Corporate Bonds
This article explores the European Central Bank’s (ECB) pioneering approach to incorporating climate considerations into its monetary policy operations, using a climate scoring model. The ECB aims to reduce climate-related financial risks and encourage greener practices. The background section discusses the post-2015 Paris Agreement context and the ECB’s Climate Agenda, while highlighting the controversies surrounding its quantitative easing programs.The core of the article examines the ECB’s decarbonization strategy for corporate bonds, which involves a scoring model based on three sub-scores: backward-looking emissions, forward-looking targets, and climate reporting/disclosure. This model is expected to incentivize companies to reduce their carbon footprint and improve disclosures.The article concludes by emphasizing the ECB’s commitment to climate change mitigation but suggests a broader need for a reevaluation of the monetary system to prioritize public interest and address pressing global issues more effectively.
Bonds, ECB, decarbonization, Climate Agenda, Eurosystem, climate scoring, monetary policy
期刊介绍:
The mission of the European Business Law Review is to provide a forum for analysis and discussion of business law, including European Union law and the laws of the Member States and other European countries, as well as legal frameworks and issues in international and comparative contexts. The Review moves freely over the boundaries that divide the law, and covers business law, broadly defined, in public or private law, domestic, European or international law. Our topics of interest include commercial, financial, corporate, private and regulatory laws with a broadly business dimension. The Review offers current, authoritative scholarship on a wide range of issues and developments, featuring contributors providing an international as well as a European perspective. The Review is an invaluable source of current scholarship, information, practical analysis, and expert guidance for all practising lawyers, advisers, and scholars dealing with European business law on a regular basis. The Review has over 25 years established the highest scholarly standards. It distinguishes itself as open-minded, embracing interests that appeal to the scholarly, practitioner and policy-making spheres. It practices strict routines of peer review. The Review imposes no word limit on submissions, subject to the appropriateness of the word length to the subject under discussion.