Elaborating A Climate-Friendly Legal Perspective For The ECB

Smits, R.

doi:10.2139/ssrn.4213617

Cited by 1 publication

(2 citation statements)

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“…Seen in this light, it is not only logical but also legally required that the ECB 'ensure its policies and activities are congruent with those of the EU at large' with respect to climate change. 30 In this connection, it is argued that the ECB should 'refrain from making decisions that counter policies promoted by other institutions' and 'positively consider them in the design of their own policies'. 31 Support for this argument may also be drawn from the Gauweiler judgment, according to which the ECB's actions cannot be such as to contravene the effectiveness of the general economic policies in the Union.…”

Section: Climate Change and The Role Of The Ecbmentioning

confidence: 99%

“…However, there are divergent views in the relevant literature with respect to the ECB's obligations under this agreement. 33 The European Parliament is less ambiguous on the matter. 34 In any event, it should be noted that the European Climate Law, which sets out the overall framework for the Union's contribution to the Paris Agreement, mandates the 'relevant Union institutions' and the Member States to take the necessary measures to achieve the Union's climate targets, as well as to ensure continuous progress in enhancing adaptive capacity, strengthening resilience and reducing vulnerability to climate change.…”

Section: Climate Change and The Role Of The Ecbmentioning

confidence: 99%

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The accountability of the European Central Bank: New frontiers, new challenges

Markakis,

Fromage

2023

Maastricht Journal of European and Comparative Law

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Over the years, the European Central Bank (ECB) has taken on new tasks in response to fresh challenges, and its mandate has been interpreted in novel ways. This broader role for the ECB – whether it translates into a novel interpretation of its mandate, the creation of a new form of public money, more complex and discretionary decision-making, or the conferral of new tasks – has brought greater scrutiny onto the ECB. This introduction and the contributions to this special issue focus squarely on the “new” or “modern” ECB. They examine its accountability across the range of tasks that it nowadays carries out, including its interinstitutional relationships with other actors in this area. Although the ECB has assumed a broader role than the one envisaged at the time of its creation, its accountability framework, which is by and large hardwired into the Treaties, has remained unchanged. It is argued that the expansion of the ECB’s role and tasks must be accompanied by robust accountability and transparency arrangements. As the ECB pushes new frontiers in the future, those options to enhance accountability, transparency and legitimacy which are available within the existing Treaty framework should be pursued. This would also ensure that the ECB and other relevant authorities go far enough in meeting their objectives.

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Section: Climate Change and The Role Of The Ecbmentioning

confidence: 99%

Section: Climate Change and The Role Of The Ecbmentioning

confidence: 99%