Changing Finance: new this month

A monthly round-up of news, ideas and initiatives related to transforming the UK financial system for people and planet, compiled by the Lab’s CEO Jesse Griffiths.

Inequality explosion

How the virus is exacerbating global inequality. The top 1% have a quarter of UK wealth – it’s a bumper year for billionaires and bosses. Wealth gaps between ethnic groups aren’t closing.

The dirty City…

London boasts half of Russian money laundering. 80% of financial services professionals don’t think their firms are committed to ethical finance. Financial scam compensation set to top $1bn.

…and the ethical one

Here are the top ethical insurerssavings accounts, financial advisers and sustainable investment platforms and the 2020 trends in sustainable and impact investing.

Customers want banks with good social and environmental impacts.

The Church tries to improve diversity in investment.

Climate and human rights

The people speak: it’s a climate emergency. HSBC shareholders take it to task on climate commitments while a pension fund calls for mandatory climate votes.

The French Central Bank dumps coal, limits oil and gas investments. MPs tell the Bank of England to align its bond portfolio to climate commitments. Green bonds are on the up. Blackrock is still addicted to fossil fuels and investing in coal. Is Carney wrong on climate?

Why human rights and environmental due diligence should be mandatory for banks.

What’s next for regulation?

Big Bang 2.0? Even the City is wary of de-regulation post-Brexit. Here’s a better alternative.

British steel pensions scandal shows FCA ‘not fit for purpose’ say MPs.

In other news

Are we in the biggest stock market bubble for a century? There’s no open outcry trading left. Time to ditch GDP?

COVID-19 created a bumper year for private equity. How to channel pandemic savings to fund the recovery. How much does debt affect personal wellbeing?

The Scottish National Investment Bank is launched.

And finally…

How to have an away day without leaving the house and organise accessible events.

Is this the future of philanthropy?  What academics say vs what they mean. An important public service announcement.

The Lab launches a new strategy!

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