UK opposition sees greater role for BoE in fighting climate change

John McDonnell
John McDonnell, Labour party shadow finance minister
Sophie Brown/Wikimedia

The official opposition party in the UK will look into giving the Bank of England stronger powers to promote green investment, the party’s chief financial spokesman has said.

John McDonnell, Labour party shadow finance minister, said in a speech today (June 24) that too much investment was still flowing to “brown”, or polluting, sectors. The party envisages a “sustainable investment board” that will bring together the finance minister, business secretary and BoE governor.

McDonnell said there

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