Our 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.

The Climate

How was a deal reached at the Baku climate COP? And what was achieved on climate finance?

Meanwhile, European banks’ climate targets are not up to scratch. Banks’ and investors’ support for Liquified Natural Gas (LNG) is fuelling a climate disaster and big banks are promoting false solutions on renewables investment. (Sadly, most of the world’s top 50 banks are also failing to meet UN human rights standards).

Solutions exist: a network of public banks can fill the global climate financing gap and the UK could reduce interest rates for green investments.

The European regulator recommends that insurance companies hold higher capital because of climate change risk.

All Universities in Wales have now divested from fossil fuels.

Inequality and unfairness in finance

Official statistics are wrong – as many as 13.5 million people have debt problems big enough to need debt advice. That’s one reason actor and unjust debt campaigner Michael Sheen has joined the call for a Fair Banking Act.

Almost £6bn of suspicious funds – mostly channelled through the British Virgin Islands – have been used to buy UK property. The Treasury is underestimating how much tax is lost through accounts held overseas. Such secrecy jurisdictions are also destroying rainforests.

Here are the risks that come from extreme wealth.

Investment and pensions

UK banks continue to channel relatively little lending to businesses.

Why the Chancellor’s promise to ‘unlock’ £80 billion through pension fund consolidation is overblown and why higher ambition for pension reform is needed to prevent miserable retirements. Celebrities are pushing for green pensions reform.

And finally…

How patriarchy has been ‘renegotiated’ in Bangladesh over the past fifty years.