Bank of Greece governor, Yannis Stournaras, has expressed concern over the consequences of a hot summer on food prices.
“Excessive temperatures puts upward pressure on food prices,” he underlined.
Speaking at the Capital Market Commission’s conference on climate change, Stournaras said that the excessive rise in temperature during the summer months will put pressure on food prices, especially in warmer countries.
Referring to the actions taken by the central banks to deal with the climate change, Stournaras said, that the ECB has begun to take climate change into account seriously in the reinvestment of corporate bonds, and gradually integrates climate change issues into its analyses, macroeconomic forecasting models and risk management.
