It feels a lot like momentum….!
First Andrew Bailey was forced to respond to activists who emailed and called him. Here’s the line I think is interesting:
“We believe that the Bank’s duty to the people of this country requires such a difficult choice to be made, but it will not change our commitment to the goals of countering climate change. Likewise, when the pressure on our resources abates, we will turn to important issues such as the benchmark for our corporate bond portfolio.”
Read the Bank’s official statement here:
Our partner Positive Money also launched a cracking report on CCFF and a survey which found 63% of the public wants bailouts to have strings attached to environment and social conditions.
And after significant and sustained pressure for the brilliant folks at NEF The Treasury and BoE have now acknowledged that climate change is explicitly part of the Bank of England’s financial stability mandate. And that’s really significant.
Well done everyone!