Lunch seminar: Article 11 TFEU

The University of Oslo is hosting a lunch seminar where Dr. Javier Solana (Lecturer in Commercial Law, University of Glasgow) will present his paper on the European Central Bank (ECB) and Article 11 TFEU: The power of the ECB to promote environmental protection.

Photo: Mikka Luster on Flickr

The misalignment of the Corporate Sector Purchase Programme (CSPP), the latest iteration in the development of the European Central Bank (ECB)'s unconventional measures of monetary policy, with EU environmental global commitments has stirred a lot of political debate and attention from academic commentators in 2017. A great part of these discussions has focused on the economic rationale for the ECB to take a more proactive role in promoting environmental protection and sustainable development. The extent to which the ECB has legal power to do so, however, remains relatively unexplored. Dr. Solana´s essay takes the controversial CSPP as a cue to explore the potential role of the ECB in promoting environmental protection and sustainable development under EU law. His analysis reveals that the principle of integration laid down in article 11 TFEU already confers upon the ECB the legal power to promote those objectives, that the scope of that power is quite broad, but that its exercise depends largely on political will. The essay also provides a critical analysis of the validity of the CSPP to illustrate the potential limits of that discretion. It also builds on this theoretical analysis to suggest a specific policy framework that would allow the ECB to incorporate aspects of environmental protection and sustainable development more prominently in the design of future iterations of the CSPP.

At this lunch seminar Dr. Solana will present his essay, followed by a prepared comment from Dr. Beate Sjåfjell and discussions with participants. All are welcome, and we will be serving light refreshments.



SMART and the University of Oslo, Department of Private Law
Published Apr. 6, 2018 8:40 AM - Last modified Apr. 11, 2018 9:34 AM