Budget 2021: ‘New infrastructure bank to drive at least £40bn of green investment’

Chancellor of the Exchequer Rishi Sunak said ‘a real commitment to green growth’ is needed to build a strong, fair and resilient future economy

‘UK needs £350bn of new investment to reach net zero targets’

A new report from LCP suggests a £350bn investment is needed over the next 30 years if the country is to achieve the aims set out in 2020’s energy white paper

Hidden costs of energy and transport sectors ‘sit at a staggering $25 trillion’

New research shows the external impacts of the sectors are not accounted for when tallying costs, with no compensation for those affected

Scottish Widows commits to halve carbon footprint of £170bn portfolio within a decade

It claims to be the first major pensions and insurance provider to set such a goal by 2030

Climate action and green finance ‘could be next internet boom’ says Barclays boss

Jes Staley, Chief Executive of Barclays, said he believes London can lead the way by becoming a major global hub for sustainable finance

BlackRock CEO warns polluting companies could be dropped from actively managed funds

In his annual letter to CEOs, Larry Fink said the global asset manager would ask companies to disclose how their business model aims to be compatible with net zero

Banque de France to end all financing of companies associated with coal by 2024

However, the bank will continue to support companies that source up to 10% of their turnover from ultra-polluting tar sands, fracking and fossil fuel exploration in the Arctic

Fintech firm Cushon launches ‘first net zero pension’

The average pension member in the UK currently finances around 23 tonnes of annual carbon emissions through their investments alone

Two million plastic bags are used every minute – are banks partially to blame?

Portfolio Earth says yes – it calls for global banks to stop financing businesses in the plastic supply chain unless they can demonstrate best practice in environmental behaviours

UK’s distillery industry lands £10m of new funding to drive decarbonisation

The new wave of funding is expected to help distilleries cut carbon dioxide emissions by nearly a million tonnes every year