The must account for risks stemming from damage to nature, a process that could feed inflation in the same way that climate change does, according to Executive Board member .

"If nature degradation continues, economic activities dependent on ecosystem services will be affected by issues such as supply-chain disruptions, which have an impact on prices and ultimately on inflation," Elderson said Tuesday in a speech.

Talking at Euro Finance Week in Frankfurt, he said nature degradation and climate change are both relevant to the ECB's mandate to ensure price stability across the 20-nation euro ...