Revise bank loan rules to boost climate action: survey
Reuters, LONDON
An overhaul of bank capital rules would be the most effective step that regulators could take to support climate action, a group of 50 sustainable finance experts said yesterday.
In a survey carried out by the non-profit Climate Safe Lending Network, academics, commercial banks, non-governmental organizations, investors and central banks were asked to rank 10 proposals for how financial regulation could be changed to boost climate efforts.
Respondents included the Bank of England, the European Central Bank and Spain’s Banco Bilbao Vizcaya Argentaria SA, as well as Boston Common Asset Management LLC and Amalgamated Bank in the US, and the UK’s Big Society Capital Ltd.