The ECB and its role in a sustainable financial system

On October 13 2021, the Global Ethic in Finance and Economy Research Group of the Global Ethic Institute will organize a conference on the new strategy of the European Central Bank, especially on its role in the ecological transformation, at the Johann Wolfgang Goethe University in Frankfurt am Main. The conference topic is “The European Central Bank and its role in a sustainable financial system – problems and opportunities”.

Christine Lagarde, the president of the ECB, has emphasized in various statements that the central bank wants to play an active role in addressing the impending climate catastrophe. Can we take her at her word? What will that role be? What instruments does the ECB have at all to make a difference in problem areas such as decarbonization, biodiversity, energy transition, resource consumption? Is it even entitled to go beyond the classic core mandate of preserving monetary stability? And what role does Europe have in the global transformation?

These and other questions will be discussed by high-ranking experts from academia and business, civil society, the financial industry and the institutions involved at national and European level. Among them none other than the co-president of The Club of Rome, Dr. Mamphela Ramphele and Peter Blom (Chair, Rethinking Finance Hub, Club of Rome) who will give a joint presentation about the role of the ECB in a worldwide transformation – from a global perspective. The list of speakers also includes Dr. Fritzi Kohler-Geib (Chief Economist of KfW Bank), Prof. Klüh from the Center for Sustainable Economic and Business Policy and Dr. Ehnts from the Institute For International Political Economy in Berlin, among many others.

The conference, which follows on from the 2019 ECB Symposium of the Global Ethics Research Group on Finance and Economics, will begin at 9 a.m. on Oct. 13 and will be opened by Goethe University President Prof. Dr. Enrico Schleiff. The number of participants is limited to 200.

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Agenda

9 a.m.              Welcome address by Prof. Dr. Enrico Schleiff, President of the Goethe University Frankfurt

9.15 a.m.         Welcome of the guests and opening of the conference by Dr. Bernd Villhauer (Weltethos-Institut).

9.30 a.m.         “Sustainable Finance: What has happened – what needs to happen?” – Thematic introduction by Prof. Dr. Johannes Hoffmann (Goethe University, Founder and Member of the Board of The Global Ethic in Finance and Economics Research Group).

9.45 a.m.         Presentation of the ECB sustainability strategy

10.30 a.m.       “The ECB’s credibility put to the test” – presentation by Prof. Dr. Harald Bolsinger and Jens Minnemann (University of Applied Sciences Würzburg-Schweinfurt)

11.15 a.m.       “Does the ECB have an effective strategy for sustainability?” – Discussion with Dr. Dirk Ehnts (Institute for International Political Economy Berlin) and Prof. Dr. Ulrich Klüh (Center for Sustainable Enterprise and Economic Policy) – Moderated by Dr. Bernd Villhauer

12.15 p.m.       “The global perspective – on the role of the ECB in the worldwide transformation” – Presentation in English by Dr. Mamphela Ramphele (Co-Presidents Club of Rome) and Peter Blom (Chair, Rethinking Finance Hub, Club of Rome) – moderated by Dr. Ndidi Nnoli-Edozien (Member of the Board of The Global Ethic in Finance and Economics Research Group, Full Member Club of Rome)

1.15 p.m.         Lunch break

2.15 p.m.         “New Monetary Policy in Practice. What does MMT achieve?” – presentation by Dr. Dirk Ehnts (Institute for International Political Economy Berlin)

3 p.m.              “The KfW Group and its role in a sustainable financial system” – presentation by Dr. Fritzi Köhler-Geib (Chief Economist of KfW)

3.45 p.m.         Short coffee break

4 p.m.              „What does ECB policy mean for citizens and businesses?” – Discussion with Prof. Dr. Gerhard Minnameier (Goethe University), Dr. Fritzi Köhler-Geib (KfW), Horst Schneider (AIR GmbH), Dr. Adam Gehrke (Marsh GmbH) – moderated by Benedikt Hoffmann (Member of the Board of The Global Ethic in Finance and Economics Research Group)

5 p.m.              Final discussion with the audience

5.45 p.m.         Closing remarks Prof. Dr. Harald Bolsinger / Prof. Dr. Ulrich Klüh

6 p.m.              End of the event

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