Frank Elderson: From climate and nature risks to economic resilience and competitiveness
Source: Ecb ·
From the source
Keynote speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Green Swan 2026 Conference We are living in a time of profound economic, geopolitical and technological uncertainty. Yet amid all this uncertainty, one thing is clear: climate change and nature degradation will continue to shape our economies and societies, and we will have to deal with the consequences. Climate change and nature degradation are a certainty in an uncertain world. The events of this summer have reminded us of that reality in the most tangible way possible. For Europe, the summer of 2026 was not simply another warm season. It was the warmest summer ever recorded in Western Europe, marked by severe droughts, devastating wildfires, water scarcity and mounting pressure on ecosystems across the continent. [ 1 ] Water levels in major European rivers fell to exceptionally low levels, affecting transport, industry and energy production. At the…