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COP26 President Alok Sharma attends an event at Whitelee Windfarm, just outside Glasgow, Scotland, Britain, May 14, 2021. REUTERS/Russell Cheyne/Pool/File Photo
Britain s climate tsar on Thursday urged companies to join the United Nations Race to Zero campaign and commit to science-based emissions-reduction targets, ahead of global climate talks in November.
Speaking at the Reuters Responsible Business 2021 conference, Alok Sharma, president of the United Nations next round of talks, COP26, said moves from companies could prompt governments to take firmer action themselves. To make bold commitments, governments need to know that they will be welcomed and not resisted by business, so we re urging all companies and all investors to join the race to zero campaign ahead of COP26, he said.
LONDON Bank of England Governor Andrew Bailey said on Tuesday there was no case yet for making financial institutions set aside more capital for climate…
By Reuters Staff
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LONDON, June 1 (Reuters) - Bank of England Governor Andrew Bailey said on Tuesday the British central bank wants lenders and insurers to be more aware of the risks posed by climate change, but that it was not financial regulators’ role to enforce change.
Central banks around the world are increasingly focused on the costs of climate change as they try to steer a path for their economies and the financial systems through the transition to net zero carbon emissions as well as extreme weather events.
“The biggest component of the journey to net-zero rests not with central banks, but with government, through the delivery of sector-level climate policy pathways. Without these the real economy cannot adjust effectively,” Bailey said in a speech to the Reuters Responsible Business 2021 conference.
William SchombergDavid Milliken
4 minute read
Bank of England Governor Andrew Bailey poses for a photograph on the first day of his new role at the Central Bank in London, Britain March 16, 2020. Tolga Akmen/Pool via REUTERS
Bank of England Governor Andrew Bailey said on Tuesday there was no case yet for making financial institutions set aside more capital for climate change risks, even though markets were underpricing the danger of disruption.
Central banks around the world are increasingly focused on the costs of climate upheaval as they try to steer a path for their economies and the financial systems through the transition to net-zero carbon emissions as well as extreme weather events.