Bank of England hints at climate conditions for future support
24 September, 2020Central bank under fire from MPs on its Covid bailout scheme’s failure to protect jobs and the environment The Bank of England may attach climate conditions to asset purchases, a senior Bank of England official told MPs on the Environmental Audit Committee this morning, after coming under fire for the lack of strings attached to [...]
Bank of England told to “put your money where your mouth is” with green recovery
6 August, 2020London, 6 August 2020 - The Bank of England was the scene of protests this morning as campaigners called on Britain’s central bank to act on its pledges to support a green COVID recovery. Campaigners accused the Bank of England of failing on pledges to ‘build back better’ from the covid crisis, as recent research [...]
Business bailouts must build an economy that works for everyone
3 July, 2020Below is an open letter sent to the Prime Minister and opposition party leaders, calling for all state support for businesses to serve the wider public good, signed by Positive Money and leading civil society groups. It comes after Positive Money polling revealed that two-thirds of the public agree that bailouts should come with social [...]
Two-thirds of public want strings attached to bailouts
2 July, 2020Just 5% think no conditions should be attached to state financial support, as report reveals how the government’s pledge to ‘build back better’ is already being failed by corporate bailout scheme London, 2 July 2020 - Nearly two-thirds of the UK public think large corporations should only receive bailouts if they agree to protect jobs [...]
Positive Money response to BoE climate disclosure: Bank must put its money where its mouth is
18 June, 2020London, 18 June 2020 - Research and campaign group Positive Money has called for the Bank of England to act on the climate risk of its own balance sheet published today, by taking measures to ensure its activities are aligned with the government’s climate goals. The Bank of England’s first ever climate-related financial disclosure revealed [...]
Positive Money response to GDP figures: Gov must steer clear of putting private wealth ahead of public health
12 June, 2020Responding to figures published today by the ONS which show GDP fell by 20.4% in April, and 10.4% in the three months to April, Fran Boait, executive director of Positive Money, said: “April’s growth figures come as no surprise but they will no doubt fuel debate over whether emergency public health measures designed to save [...]
Andrew Bailey calls for green recovery, but BoE must lead by example
5 June, 2020London, 5 June 2020 - Research and campaign group Positive Money has welcomed Bank of England (BoE) governor Andrew Bailey’s calls for a green recovery from the Covid crisis, but urges Britain’s central bank to lead by example. Bailey is among current and former central bankers writing in The Guardian today calling for the response [...]
BoE bailing out ‘climate criminals and bad bosses’
4 June, 2020Airlines receive £1.8bn of public money with no strings attached, oil companies £750m. London, 4 June 2020 - Research and campaign group Positive Money has called for the government to consider stricter conditions on public assistance to big business, after the Bank of England (BoE) today revealed that a host of socially and environmentally irresponsible [...]
Bank of England comes clean on corporate bailouts following Positive Money campaign
19 May, 2020London, 19 May 2020 - The Treasury and the Bank of England have today announced that the names of companies being bailed out through the Covid Corporate Financing Facility (CCFF) will be made public, and conditions will be attached, following pressure from research and campaign group Positive Money. The CCFF allows investment-grade companies to sell [...]