"[It] is pretty obvious, climate change will have — has already — an impact on price stability, whether you look at climate-related events, whether you look at particularly exposed areas, prices will be determined as a result of that," Lagarde stated.
The ECB is currently conducting a policy review of the entire monetary policy and will be adding climate risks to the report. The institution is also investigating whether lenders in the eurozone are managing their climate-related risks.