Quick action should be taken against climate change

In his speech at the "European Summer Courses" seminar he attended in Pamplona, ​​northern Spain, De Guindos said, "If action is not taken quickly against climate change, the impact on the solvency of companies and banks over a 20-year period could be significant." said.

Emphasizing that the consequences of climate change in the economy are much more visible with natural disasters, De Guindos argued that "the transition from a coal-based economy to a cleaner economy is necessary".

Stating that the decisions to be taken by governments will determine the priority in the fight against climate change, and the ECB's action plan will only be supportive, De Guindos warned that "negative effects on the economy may become more visible in the medium term rather than the short term" if it is delayed.