Lagarde Urges Climate Resilience Drive
European Central Bank President Christine Lagarde called on Europe to boost climate insurance and invest in power infrastructure. Following extreme summer heatwaves, she emphasized the urgent need to protect the economy and energy system from financial fallout.
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European Central Bank President Christine Lagarde urged Europe on Wednesday to overhaul climate insurance and power grids after scorching summer heatwaves exposed deep economic vulnerabilities. The warning comes ahead of the COP31 climate summit in Turkey, where officials will debate emission targets. Higher infrastructure spending is needed to protect the currency bloc, which underpins the EUR/USD exchange rate.
