October 2019 – Responding to the announcement in today’s green finance strategy that the government will consider requiring listed companies and pension firms to publish climate impact reports, Positive Money’s director Fran Boait said:
“With a small window of time to decarbonise the economy, there is a need to rapidly shift lending and investment out of risky fossil fuels. Ensuring that companies publish consistent and comprehensive information about their climate risk is a crucial first step, and it is extremely timely that the government will look at making climate risk disclosure mandatory for all firms.
The Government and Bank of England must now go further, by introducing measures to actively penalise high-carbon lending. The climate emergency is too urgent to rely on market forces alone, and only tougher regulation will stem the flow of finance to dirty energy before it’s too late.”
About Positive Money
Positive Money campaigns for a money and banking system which supports a fair, democratic and sustainable economy. Set up in the aftermath of the financial crisis, Positive Money is a not-for-profit company funded by charitable trusts and foundations, as well as small donations from its network of over 65,000 supporters.