From recognition to integration: the ECB’s progress on climate and nature-related risks and the role of its climate change centre

Ivana Baranović, Giuseppe Barillà, Irene Heemskerk and John Hutchinson

Economic Bulletin Articles, 2026, vol. 7

Abstract: The ECB climate change centre (CCC) was established in 2021 to design and steer the ECB’s response to climate-related risks. During its first five years, the centre has evolved from a dedicated coordination hub into a facilitator of the integration of climate and nature-related risks into the ECB’s overall analytical and risk framework. It has thereby supported the institution’s progression from “recognition to integration” in addressing climate and nature-related risks. This article reviews the developments and achievements of the CCC and discusses how it continues to support the climate-related work of the ECB in response to a changing economic, policy and environmental landscape. JEL Classification: E58, Q54, Q57

Keywords: central banking; climate change; nature-related risks (search for similar items in EconPapers)
Date: 2026-11
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