The British government should raid the banks for tens of billions of pounds to fill a black hole in the public finances, according to former Bank of England Deputy Governor Charlie Bean.
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UK inflation rose more than expected last month to the highest in 40 years, intensifying a squeeze on consumers and adding to pressure for action from the government and Bank of England.
The Institutional Investors Group on Climate Change (IIGCC) has issued a letter warning against divestment as an effective plan for financial transition to net zero. It calls this ‘paper decarbonisation’ and says that it won’t work.
The Partnership for Carbon Accounting Financials (PCAF) has launched a public consultation on the Global GHG Accounting and Reporting Standard for the Insurance Industry Progress Report. The consultation will be open until 26 August 2022.
The Bank of England (BoE) has released the results of its most recent financial stress test, showing that the financial system should be able to manage the impact of the net-zero transition.