Ecological effects of the global financial crisis — the ECB goes green
The FT’s money supply blog reports on the ECB’s first “environmental statement”:
The European Central Bank has a new target! Not only does it want to control inflation, it wants to save the environment, too. It has just published its first “environmental statement”, signed off by Vítor Constâncio, vice-president, which reveals a goal of reducing its total carbon footprint by 15 per cent in 2011 compared with 2009.
The ECB is hardly a smoke-belching industrial company (please, no jokes about hot air production). But it does operate three high-rise buildings in Frankfurt and has more than 1,500 staff, quite a few of whom travel around the world regularly. The euro’s monetary guardian also produces a lot of weighty, paper-consuming publications.
[…] Alas, those gains were offset by a 13 per cent increase in energy consumed for heating and cooling purposes. The ECB says that was partly the result of providing additional air conditioning at weekends – those out-of-hours meetings to combat the economic crisis clearly took their toll on the environment.
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