Chancellor Rishi Sunak is being urged to use the Budget to change the financial system to better protect the environment. One group wants him to impose a carbon tax and use the proceeds to protect the poor from high energy bills. A second petition is calling for Bank of England rules to encourage banks not to invest in fossil fuels. Mr Sunak is expected anyway to update the Bank’s mandate to include a greater focus on climate. But campaigners want the new wording to stop the Bank from supporting fossil fuel firms through schemes such as its £20bn corporate bond purchase programme, which involves buying debt issued by firms such as Shell and BP.
BBC 24th Feb 2021 read more »
Chancellor Rishi Sunak will deliver his second Budget next week. But, faced with the challenge of supporting the economy as the UK completes its lockdown exit roadmap, will the Budget deliver an appropriate response to the climate and nature emergencies?
Edie 24th Feb 2021 read more »