ECB's outgoing chief Lagarde calls for climate resilience ahead of COP31

Daily Sabah · Reuters · 2026-11-04 12:50 UTC

The outgoing chief of the European Central Bank (ECB), Christine Lagarde, called on Europe Wednesday to boost climate-related insurance, invest more in...

The outgoing chief of the European Central Bank (ECB), Christine Lagarde, called on Europe Wednesday to boost climate-related insurance, invest more in power infrastructure and help companies generate their own electricity, saying last summer's extreme heat should serve as a warning.

Ahead of next week's COP31 summit in Antalya, Türkiye, Lagarde said the latest heat waves, droughts and wildfires had exposed vulnerabilities in Europe's economy and energy system that would become more acute as the climate warms.

"As extreme weather becomes a regular feature of our summers, Europe must proactively prepare and be better protected against its financial fallout," Lagarde, who announced her resignation last week, said in a blog post.

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