Sustainable Security? Balancing Risks and Resources in Europe’s Climate and Defense Transition

Amid escalating climate risks and geopolitical tensions, European governments and financial institutions face a critical dilemma: How can we reconcile ambitious climate goals with pressing security needs? Many related issues spring to mind: Could sustainable finance extend to defense, or would that amount to “olive-green-washing”? How can we ensure energy security, value chains, and access to critical materials in an era of climate-driven instability? Does the climate crisis fuel conflict? How can we foster cooperative climate action in a divided world? And ultimately: Is climate policy peace policy?

Introductory remarks
Martin Kocher, Oesterreichische Nationalbank, Governor 

Speakers
Walter Feichtinger, Center for Strategic Analysis, President
Florian Krampe, Stockholm International Peace Research Institute, Programme Director
Silvia Merler (online), Algebris Investments, Head of ESG and Policy Research
Guntram Wolff (online), Université libre de Bruxelles, Professor

Moderation
Andreas Breitenfellner, Oesterreichische Nationalbank, Senior Principal

Date
Wednesday, January 21, 2026, 16:00 – 18:00 CET

Venue
Oesterreichische Nationalbank, Kassensaal
Otto-Wagner-Platz 3, 1090 Vienna
or Online via Webex

Registration