# Climate at a crossroads: the need to act now

Page: https://stenobird.com/podcast/euro-matters-the-european-central-bank-podcast-1063898/climate-at-a-crossroads-the-need-to-act-now
Text version: https://stenobird.com/podcast/euro-matters-the-european-central-bank-podcast-1063898/climate-at-a-crossroads-the-need-to-act-now.md
Podcast: [Euro Matters – the European Central Bank Podcast](https://stenobird.com/podcast/euro-matters-the-european-central-bank-podcast-1063898)
Published: 2025-10-14T03:00:53+00:00
Episode link: https://soundcloud.com/europeancentralbank/climate-at-a-crossroads-the-need-to-act-now
Audio file: http://dts.podtrac.com/redirect.mp3/feeds.soundcloud.com/stream/2189223431-europeancentralbank-climate-at-a-crossroads-the-need-to-act-now.mp3
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JSON: https://stenobird.com/v1/public/podcasts/euro-matters-the-european-central-bank-podcast-1063898/episodes/climate-at-a-crossroads-the-need-to-act-now
Duration seconds: 2091

## Resource

The verdict on climate change is bleaker than ever before. The remaining carbon budget to limit global warming to 1.5°C is rapidly shrinking – equivalent to just three years of emissions at current rates. What is the scientific framework known as planetary boundaries? What’s science telling us about the economic impact of climate change? And how is the ECB addressing climate and nature-related risks? Our host Paul Gordon speaks to Johan Rockström, Director of the Potsdam Institute for Climate Impact Research, and Irene Heemskerk, head of the ECB’s climate change centre, to find out why. The views expressed are those of the speakers and not necessarily those of the European Central Bank. Recorded on 8 October 2025 and published on 14 October 2025. In this episode: 01:48 Where do we stand in the fight against climate change? What is science telling us? What could get us back on track? 05:58 Is climate change attracting enough attention? Is it being overshadowed by other challenges, like the war in Ukraine or geopolitical fragmentation? How is climate change connected to the economy? And what level of risk are we facing? 10:30 What are planetary boundaries? What is the planetary boundaries framework? 14:50 The phases of climate change How has global warming evolved over time? Are we heading for disaster? Is the 1.5°C threshold a goal or a limit? 19:15 Why is our economy dependent on climate change? Why do climate insights matter to the work of a central bank? How does the ECB take climate change into account? What risks does climate change pose to our primary mandate, price stability? And is it too late for us to take action? 23:03 What is the “right pace” for transitioning to a carbon-neutral economy? How can we balance the need for rapid change with economic interests ?…

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## Transcript

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