Written by 16:06 Financial Centre, International

Climate-related data successfully procured

Key milestone reached for incorporating climate factors

The Deutsche Bundesbank, acting on behalf of all the central banks that belong to the European System of Central Banks (ESCB), has successfully completed the procurement of climate-related data. The process was supported by the Eurosystem Procurement Coordination Office (EPCO). This marks a key step towards implementing the ECB action plan to incorporate climate change considerations to a greater extent.

“The availability of comprehensive, consistent and timely data is the key to everything we do,” says Sabine Mauderer, the member of the Bundesbank’s Executive Board responsible for markets. “The better the data situation, the more targeted our actions can be.”

Going forward, two external data providers will deliver indicators measuring the climate impact of securities issuers to the Eurosystem. All the ESCB central banks can gain access to these data.

The Eurosystem has agreed on a common stance for sustainable and responsible investment principles in non-monetary policy portfolios and on plans for climate-related disclosures. It is aiming to start disclosing information based on the new data in the first quarter of 2023.

“Harmonised use of a common set of data will make the central banks’ climate-related analyses comparable going forward,” according to Ms Mauderer.

Source: Bundesbank

Picture: Unsplash

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