The European Central Bank as a Sustainability Role Model: Philosophical, Ethical and Economic Perspectives 9783030554491

This book examines selected actions and investments of the European Central Bank (ECB) from a climate and sustainability

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English Pages 84 [88] Year 2020

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The European Central Bank as a Sustainability Role Model: Philosophical, Ethical and Economic Perspectives
 9783030554491

Table of contents :
Preface
Contents
Where Do We Stand When It Comes to Sustainable Financial Markets?
1 Introduction
2 Ethical Environmental Investments and their Origins
3 What Does Sustainability Mean in the Financial Sector?
4 Exclusion Criteria Versus Best-in-Class Approach
5 ECB and Sustainability
5.1 What Are the Causes?
References
Ethical Standards Beyond Monetary Policy: Approaches to a Philosophical Foundation
1 Europe as a Community of Shared Values
2 Values and Law
3 The Law as the Only Available Implementation Measure Within the Context of a Social and Ecological Market Economy?
4 The ECB’s Contribution to a European Social and Ecological Market Economy
5 Market Conforming and Non-market Based Policies
6 Future Tasks for the President: Christine Lagarde’s Decisions
Bibliography
Fundamental Rights in the Core Business of the ECB: No Issue?!
1 How It All Began
1.1 Climate Challenge and Beyond
1.2 Hidden Places of Horror
1.3 The ECB as Role Model
1.4 Ethical Blindness in the Eurosystem
2 The EU Petition 429/2017
2.1 Content Overview
2.2 Barely Acceptable
2.3 Patience
2.4 Overview of Official Answers
2.4.1 European Commission
2.4.2 ECON Committee
2.4.3 ECB
2.5 A Wind of Change
3 Summary and Outlook: Opportunity for a Global Paradigm Shift
On the Role of the ECB in Sustainable Finance
1 Article
Reference
Legal Approaches to Encouraging the ECB to Comply with Human Rights Aspects When Establishing the List of Marketable Assets
1 Legal Background
2 Violations of Fundamental Rights of Natural Persons
3 Legal Instruments
3.1 Prospects of Success of a Nullity Action Pursuant to Art. 263 TFEU
3.1.1 Recital 3
3.1.2 Recital 7
3.1.3 Recital 10
3.2 Other Possible Courses of Action
References
Central Banks in Europe: On the Road to more Sustainability
1 What Impact Can Central Banks Achieve—Or Avoid?
2 What Are Progressive Central Banks in Europe Doing in Concrete Terms?
2.1 De Nederlandsche Bank (DNB)
2.2 Banque de France
2.3 Norges Bank
2.4 Riksbank
3 How Consistent Are the Central Banks at the Forefront of Sustainability?
3.1 Case in Point: De Nederlandsche Bank
3.2 Case in Point: German Bundesbank
3.3 Case in Point: The Swiss National Bank
3.4 Case in Point: Norges Bank
4 What Do These Pioneers Really Achieve in the World of Central Banking?
5 What Is the Network for Greening the Financial System (NGFS) Doing?
6 Does This Trend Really Cover the Thematic Breadth of Sustainability?
6.1 Outlook
References
Appendices
Appendix A
Appendix B
Circumstances
Supporting Documents
Remedy
Reasons

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