Bank of England begins climate enforcement with a velvet glove | Larry Elliott

Given that it has the clout to force companies to comply, this looks like a promising start

We can already hear the distant thunder of climate change and must not wait for the storm to hit. The Extinction Rebellion protesters that blocked London traffic? No, a senior Bank of England official telling banks and insurers that from now on they will be expected to make global warming central to the way they operate.

Threadneedle Street would never publicly endorse action that causes disruption but the speech by Sarah Breeden, head of international banks supervision, suggests a degree of sympathy with the points being made by the protesters: that time is running out to prevent catastrophic climate change and previous efforts to combat the problem have been nowhere near vigorous enough.

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Source: The Guardian
Bank of England begins climate enforcement with a velvet glove | Larry Elliott