The European Central Bank (ECB) has invested billions of euros in the automotive, gas and oil sectors through its quantitative easing programme, according to campaign group Corporate Europe Observatory. A pledge by the European Union to reduce carbon emissions by at least 80% by 2050 could be threatened by the ECB’s asset purchasing scheme. The bank has purchased €46bn ($48.5) of corporate bonds in companies including Shell and Total since last June, a figure that could rise to €125bn by next September. The ECB announced on Thursday that the scheme would be extended until 2018.
The European Central Bank (ECB) has invested billions of euros in the automotive, gas and oil sectors through its quantitative easing programme, according to campaign group Corporate Europe Observatory. A pledge by the European Union to reduce carbon emissions by at least 80% by 2050 could be threatened by the ECB’s asset purchasing scheme. The bank has purchased €46bn ($48.5) of corporate bonds in companies including Shell and Total since last June, a figure that could rise to €126bn by next September. The ECB announced on Thursday that the scheme would be extended until 2018.