Bank of England halves CO2 emissions in 2020/21

The bank said this was the largest decrease in its carbon footprint in a single year since it was first calculated in 2015/16

Bank of England launches climate stress test for financial sector

It will explore the two key risks from climate change – the impact of the move towards a net zero economy and risks associated with higher global temperatures

UK financial regulators required to consider climate change issues

The Financial Conduct Authority and Prudential Regulation Committee, which supervise financial services companies, should take into account the government’s legally binding commitment to transition to a net zero economy by 2050

EAC warns Bank of England to avoid ‘moral hazard’ from high-carbon bond purchases

The Environmental Audit Committee says the bank’s corporate bond purchases are currently aligned with a ‘catastrophic’ 3.5°C temperature rise by 2100

Mark Carney appointed as Finance Adviser for COP26 climate summit in Glasgow

He will help the UK Government to mobilise ambitious action from across the financial sector ahead of the conference in November

Mark Carney warns financial sector of danger of investing in oil and gas

Outgoing Bank of England Governor says investment in fossil fuels is being curbed too slowly risking irreversible climate change

Mark Carney: Businesses that fail to adapt to climate change will go bankrupt

The Bank of England Governor also said there will be ‘great fortunes’ made along the way

Climate risk stress test for UK insurance sector

It is the first time the bi-annual tests have been extended to explore climate change and applies to the largest life and general insurers

‘Cleaner and greener’ £5 notes hit the streets

The Bank of England has started circulating the new £5 notes that are said to be more environmentally friendly. The ‘cleaner, safer and stronger’ banknotes are made from polymer, a thin, flexible plastic material and feature Winston Churchill. According to the Bank, polymer is resistant to dirt and moisture and lasts around 2.5 times longer […]

Bank of England investigates ‘carbon bubble’ risk

The Bank of England is conducting an investigation into the risk of fossil fuel companies causing a major economic crash if future climate change rules make their assets worthless. The concern around the so-called “carbon bubble” is that if governments across the globe meet their target of limiting global warming to 2°C by cutting emissions, […]