BoE scolded for carbon-heavy investments

coal power pollution
BoE's corporate bond portfolio is associated with an estimated average global temperature increase of 3.5°C

The Bank of England needs to align its corporate bond-buying programme with the goals of the Paris Climate Agreement, lawmakers said today (January 25).

In a letter to governor Andrew Bailey, the chair of the UK’s Environmental Audit Committee (EAC) criticised the central bank for purchasing bonds from high-carbon sectors as part of its Covid-19 response.

The BoE is at risk of “creating a moral hazard”, Philip Dunne said in the letter, by purchasing such bonds and providing finance to

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