BoE admits bond holdings are contributing to climate change
UK central bank’s bond portfolio is out of step with international climate goals
The Bank of England’s recent climate disclosure report shows it is falling short of meeting terms in the Paris Agreement, despite making drastic cuts to its emissions.
On June 18, the BoE published for the first time a comprehensive assessment of the climate risks it faces. The central bank revealed parts of its investment portfolio currently support an average temperature increase of 3.5°C by the end of the century.
“This illustrative estimate is materially above Paris Agreement goals
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