The European Central Bank's decision to establish a Climate Change Center and invest in a green bond fund launched by the Bank for International Settlements reflects the growing importance of climate change, and ESG more broadly, in ECB policy. The ECB's focus on climate change and sustainable finance will only grow as the EU's Sustainable Finance Action Plan continues to advance.

Jones Day's Linda Hesse and Dr. Michael Fischer discuss the Bank's aim to reorient capital flows around a more sustainable economy while managing the financial risks brought by climate change.

Read a full transcript on the Jones Day website.