Covid-19: Campaigners question ECB purchase of fossil fuel firms’ debt

The European Central Bank’s massive intervention to inject liquidity into the markets amid the Covid-19 crisis has included bonds from oil companies in its corporate bond purchasing programme, much to the astonishment of climate campaigners.

by Raquel Guerra
Lagarde: Oil and gas giants Shell, ENI, Total, Cepsa and OMV are among the major emitters that the ECB has added to its balance sheet (Photo by Thomas Lohnes/Getty Images)
Lagarde: Oil and gas giants Shell, ENI, Total, Cepsa and OMV are among the major emitters that the ECB has added to its balance sheet (Photo by Thomas Lohnes/Getty Images)

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