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.
Financing climate solutions
The latest UNEP Emissions Gap report suggests current policies will lead us to a disastrous 2.6-3.1 degrees of global warming.
Sadly, the Net-Zero Banking Alliance (NZBA) progress report disappoints. Meanwhile, the top banks continue to fund ecosystem destruction and 85% of top banks are still willing to finance new coal. Barclays alone earned $1.7bn financing a company tied to Indigenous land destruction in the Amazon.
Here’s a new rating of the top 60 banks’ support for the transition to sustainable power.
And some interesting research on how pension funds and other asset owners are integrating (or not) their climate commitments in their corporate bond holdings.
What is the size of the sustainable investment market?
Blackrock is being sued for greenwashing.
Private equity’s carbon footprint exceeds the global aviation industry.
Most central banks don’t come out well in the latest Green Central Banking Scorecard.
Inequality and integrity go hand in hand
How are countries getting on at reducing inequality? And how big is the UK wealth gap? Here’s a new interactive report on the relationship between wealth inequality and outcomes for society, the economy and the environment.
A Fair Banking Act could have a major impact on the UK, reducing financial exclusion and boosting lending to small businesses.
UK-linked jurisdictions hold the top three spots in the newly updated Corporate Tax Haven Index.
Meanwhile, ‘Britain’s FBI’ is on its knees.
Investment, pensions and private equity
The government has a new industrial strategy – does this mean it has a plan for achieving its ambitious goals?
To support the industrial strategy, the new National Wealth Fund could raise over £100 billion over 10 years for investment if fiscal rules are changed.
The government’s pension reform should aim big, which could help drive its clean power and economic growth missions.
The pension savings gender gap affects women at every stage of their career.
The proportion of people aged over 65 who will be renting is expected to double.
Is private equity out of control?
And finally…
Private lenders to lower-income developing countries will make $14 billion profit even after debt relief deals.
How to truly transform healthcare in the UK (and why this would be good for the economy).