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ECB's Villeroy: Central banks can't shrug off climate change issues

BY Reuters | ECONOMIC | 10/22/24 02:08 PM EDT

By Michael S. Derby

NEW YORK, Oct 22 (Reuters) - A top European Central Bank officials said Tuesday climate change issues can't be removed from central bank decision-making.

The impact of climate change is "already so powerful" that its impact is weighing on how central banks view their economies and pursue their mandates, said French central bank chief Francois Villeroy de Galhau. "We cannot separate our primary mandate" from climate change related factors, he said as part of an appearance at an event held at New York University. (Reporting by Michael S. Derby)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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