Europe’s central bank intensifies focus on climate change

FRANKFURT, Germany (AP) — The European Central Bank has a new approach to monetary policy. And climate change is taking a bigger role. The bank said Thursday that it will start gathering more statistics and analysis on the risks from climate change. And it can consider whether companies are compliant with EU policies on the issues when buying their bonds as part of stimulus programs. The climate focus comes along with a new interpretation of its 2% annual inflation goal. From now on, transitory periods of above-target inflation will be permitted. That’s the bank’s primary job under the EU treaty: keeping inflation stable. The new policy takes effect at the next policy meeting July 22.