Moscow. 4th of July. INTERFAX.RU – The European Central Bank plans to adjust its corporate bond portfolio, giving preference to issuers with the lowest carbon footprint, Bloomberg reports.

The ECB will reinvest „a significant amount of proceeds from redeemable securities in the coming years” in a way to punish companies with a high carbon footprint, the regulator said in a released statement. The new plan will cover reinvestment in the amount of about 30 billion euros per year, which corresponds to about 10% of the ECB’s corporate bond portfolio, said Isabelle Schnabel, a member of the executive board of the European Central Bank.

„Compared to other central banks, this is a significant amount and it matters,” Schnabel said.

“With these decisions, we are translating our commitment to combating climate change into action,” said ECB President Christine Lagarde. “As part of our mandate, we are taking concrete steps to integrate climate targets into monetary policy.”