Campaigners call on BoE to make collateral rules greener

Report says bank’s use of fossil fuel assets as collateral is adding to climate risks

Bank of England
Bank of England
Photo: Juno Snowdon Photography

A campaign group has called on the Bank of England (BoE) to reform its collateral framework to tackle climate risk.

Positive Money, which campaigns for reform of the banking system, published a report today (February 28) arguing that the current framework is biased in favour of carbon-intensive industries.

“In accepting fossil fuel assets as collateral against its lending, the Bank of England is essentially using the powerful tools at its disposal to provide a hidden subsidy to this sector,” Ellie

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