Firms and banks to benefit from early adoption of green policies, ECB’s economy-wide climate stress test shows

Firms and banks to be severely affected if climate change issues not addressed Orderly and swift transition to minimise costs and maximise benefits outweighs short-term cost of transition to zero-carbon economy over medium to longer term Investment in sectors and regions heavily exposed to climate risk set to suffer most

Euro area monthly balance of payments: July 2021

Current account recorded €22 billion surplus in July 2021, unchanged from the previous month Current account surplus amounted to €320 billion (2.7% of euro area GDP) in 12 months to July 2021, up from €232 billion (2.0%) one year earlier In financial account, euro area residents’ net acquisitions of non-euro area portfolio investment securities totalled €961 billion and […]

World’s First 5-Country Biosphere Reserve will Benefit People and Nature in the ‘Amazon of Europe’

With the world facing climate and nature crises, UNESCO’s designation today of the Mura-Drava-Danube (MDD) as the world’s first ‘5-country biosphere reserve’ represents a historic step towards a new era for people and nature in Europe as well as an international model for regional conservation, climate resilience and sustainable development.