Mr. Vasileios Madouros:

Yes and the charter, which applies to our own investment assets. We think of this as trying to effectively practice what we preach in terms of where we want the financial system to get to. As the Senator mentioned, we have a sustainable investment exclusion strategy. That has resulted in the exclusion of coal companies and companies involved in the manufacture of prohibited or controversial weapons as defined in the relevant international treaties. That is one dimension of the exclusion strategy but I would like to explain a couple of other things we are doing in the context of our own investment assets. For the first time, last year we reported our own climate-related financial disclosures. Effectively, we reported the carbon footprint of the assets in which we invest.

It was the first time we did it together with the rest of the Eurosystem. We want the financial system itself to go in that direction, so we want to be practising what we preach. For the equity part of our portfolio, we adopted an EU Paris-aligned benchmark and we invest a proportion in green and sustainable bonds as well. From the perspective of our own investment assets, there is the exclusion policy, which is one dimension of it, but there is the broader direction of trying to get towards a more sustainable portfolio, which we are in the process of doing.