The ECB's Asset Purchases and Climate Action

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The ECB's Asset Purchases and Climate Action

Question for written answer Z-049/2020 to the European Central Bank Rule 140 Marie Toussaint, David Cormand, Grace O'Sullivan, Bronis Ropė, Ville Niinistö, Tilly Metz, Bas Eickhout, Saskia Bricmont, Henrike Hahn, Anna Cavazzini, Margrete Auken, Kira Marie Peter-Hansen, Ernest Urtasun, Alice Kuhnke, Jakop G. Dalunde, Pär Holmgren, Ciarán Cuffe, Monika Vana, Mounir Satouri, Damien Carême, Yannick Jadot, Michèle Rivasi, Karima Delli, Caroline Roose, Salima Yenbou, François Alfonsi, Benoît Biteau, Gwendoline Delbos-Corfield, Claude Gruffat, Jutta Paulus, (all Verts/ALE) Subject: The ECB's asset purchases and climate action With the Covid19 crisis, the ECB intends to buy at least €1470 billion of assets in 2020-2021. A significant part of these historical purchases will be used to buy corporate assets through the corporate asset purchase program (CSPP) and the Pandemic Emergency Purchase Program (PEPP). Corporate asset purchases finance 38 fossil fuel companies, including 10 active in coal and 4 in shale oil and gas. Shell and Total are benefiting from these purchases and plan on increasing their fossil fuel production by 38 and 12% from 2018 to 2030. Can the ECB disclose the individual value of the bonds under CSPP and PEPP to allow us to measure the amount of bonds bought from fossil fuel companies? If not, can the ECB disclose the total value of fossil fuel related bonds it holds? What does the ECB plan on doing to immediately reduce the indirect support that its asset purchases provide to fossil fuel companies and firms not aligned with European climate objectives, and to include the taxonomy? QZ\1210998EN.docx PE655.858v01-00 EN United in diversityEN.

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