BoE scolded for carbon-heavy investments
Parliamentary committee says current bond buying undermines “diplomatic leadership” on climate change
The Bank of England needs to align its corporate bond-buying programme with the goals of the Paris Climate Agreement, lawmakers said today (January 25).
In a letter to governor Andrew Bailey, the chair of the UK’s Environmental Audit Committee (EAC) criticised the central bank for purchasing bonds from high-carbon sectors as part of its Covid-19 response.
The BoE is at risk of “creating a moral hazard”, Philip Dunne said in the letter, by purchasing such bonds and providing finance to
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