The Lab co-signed a letter to the Andrew Bailey, as Governor of the Bank of England, to align the financial sector with the UK’s climate goals. At present, the measures taken by the Bank of England to limit 1.5C of warming are insufficient. Despite being an early leader, other Central banks have outpaced the Bank of England and the news of recent cuts to this work set us further back. We urge the Bank of England to re-prioritise aligning the financial sector with the government’s climate, reverse cuts to this work and reassert the Bank of England as a climate leader as a matter of urgency.
