Posted on December, 04 2025
A WWF study, authored by Stanislas Jourdan, associate fellow at the New Economics Foundation and Sustainable Finance Lab, and published today, finds that green refinancing operations could help shield Europe from fossil fuel price shocks and stabilise inflation.
According to the findings, by offering preferential rates to commercial banks for financing Taxonomy-aligned projects such as renewable power, upgraded energy grids, energy-efficient buildings, and sustainable transport, the European Central Bank (ECB) can strengthen price stability and accelerate the energy transition. Based on data from 47 Eurozone banks, the study finds that green refinancing operations could be implemented immediately, with at least €10 billion annually in green lending already eligible today. With banks increasingly familiar with EU Taxonomy disclosures, past barriers are falling, creating a clear window for the ECB to act and strengthen Europe’s economic resilience and energy independence.
The report urges swift coordination between the ECB, the European Commission and the European Banking Authority to overcome remaining barriers and unlock the full potential of green refinancing operations, an essential step to secure Europe’s price stability and climate objectives.