‘A Green Bank of England’: new research from Positive Money makes headlines

Positive Money made headlines again today with the launch of our latest report, ‘A Green Bank of England’, appearing in page 2 of the Financial Times.

The report was launched in Parliament this morning, with a panel discussion chaired by the Guardian’s environment correspondent Fiona Harvey, featuring the Chair of the UK’s Committee on Climate Change, Lord Deben, shadow minister Barry Gardiner, and the Lib Dem spokesperson for Energy and Climate Change, Baroness Featherstone. You can read more about the launch here.

Below is a full list of the coverage so far:

Financial Times

Bank of England urged to focus on green objectives

“Climate change should be placed “front and centre” of the Bank of England’s mandate so that the central bank can boost green investment, according to a new report that has won broad backing from the chair of the UK’s climate watchdog.”

The Independent

Bank of England must do more to tackle climate change, says report

“The Bank of England must do more to combat climate change, including overt monetary financing of investment in a low-carbon economy, according to a new report.

The BoE must also offload fossil fuel assets and use its existing powers more effectively to promote green projects, the campaign and research group Positive Money says.”

The Week

Bank of England ‘should go green’

“Research group Positive Money argues the Bank’s programme of quantative easing (QE) – effectively printing billions of pounds to buy up debt and lower interest rates – has disproportionately helped carbon-intensive companies that are polluting the planet.”

The Guardian

UK must secure billions in investment to meet climate targets, MPs warn

“Alongside the EAC report, researchers and NGOs have called for a “greening” of the Bank of England, to meet carbon targets and encourage clean growth. Positive Money, a thinktank, called for the monetary policy committee, which sets interest rates, to have to take the risks of climate change into account in making its decisions, a controversial recommendation that would require wide reviews of how climate change could make an impact on inflation.”

BusinessGreen

‘Incoherent’: Report calls for green overhaul of Bank of England finance policy

“NGO Positive Money argues central bank needs new mandate to drive shift away from high carbon investments – or the UK risks missing its climate targets”

The Ecologist

Time to bail out the climate, say campaigners

“The Bank of England’s approach to climate change runs the risk of leaving action until it is too late, a report by campaign group Positive Money has concluded.”

Left Foot Forward

The Bank of England could soon be preparing for climate change

“Green campaigners are launching a new report in Parliament today advising the Bank of England on how to become a leading enterprise in a low-carbon economy.

The document, put together by Positive Money’s researcher Rob Macquarie, argues that it is part of the responsibilities of the central bank to safeguard the national economy and the stability of the financial system. And while that aim was set following the 2008 financial crisis, the new challenges to the financial sector lie in areas slightly removed from the City’s usual worries.”

Central Banking

Bank of England should have ‘green’ mandate – report

“The Bank of England should have a mandate and specific tools to actively promote the transition to a low-carbon economy, a report published by activist group Positive Money has proposed.”

The Ecologist

Reforming the mandate for a green Bank of England

“The total value of green bonds worldwide may be valued at $900 billion but with banks in the UK alone still making billions of pounds of loans to fossil fuel companies each year ROB MACQUARIE argues it’s time for the Bank of England to take an active role in decarbonisation”

London Loves Business

New report calls for Bank of England to be ‘hardwired’ for climate change

“Research and campaign group Positive Money is today launching a new report calling for the Bank of England to be given a new mandate and set of tools to actively promote the transition to a low-carbon economy.”

Week Facts

Bank of England invest in green projects to prevent climate change: REPORT

“To have a genuinely powerful, positive impact central banks should instead instigate “green QE”, which prioritises buying sustainable investments, the report suggests. This would directly stimulate activity in green sectors which have the potential to grow rapidly, Positive Money argues.”

Reuters

PRESS DIGEST- Financial Times – May 15

“Climate change should be placed “front and centre” of the Bank of England’s mandate so that the central bank can boost green investment, according to a new report from the campaign group Positive Money, published on Tuesday.”

Carbon Brief

Invest in ‘green’ firms or risk being wiped out by climate change, Bank of England tells the City

“The speech came just before a report from the campaign group Positive Money, published today and reported in the Financial Times, urged the Bank of England to put climate change “front and centre” of its mandate to boost green investment. The report said the Bank’s concern for financial stability will look “incoherent” unless the BoE does more to boost investment in the transition to a low-carbon economy.”