Home Business NewsBusinessBanking News Climate change protesters to target Bank of England

Climate change protesters to target Bank of England

by LLB Reporter
29th Apr 19 1:06 pm

The Bank of England (BoE) will be targeted on Thursday by climate change protesters, as they demand the Bank’s future stimulus bond buying is done with green goals in mind.

This round of protests has been organised by campaign groups, Positive Money and Fossil Free London on the day the BoE are to release their inflation report.

The campaigners will demand the bank “greens” their quantitative easing (QE) programme, to favour bonds with green projects and stop asset purchasing in high carbon sectors.

Positive Money said they campaign “for a money and banking system that enables a fair, sustainable and democratic economy.”

Fossil Free London said they seek “social, economic and environmental justice across London.”

The campaigners jointly said BoE recent moves on climate change was “encouraging first steps.”

They added, “Speculation is mounting that the Bank of England will undertake more QE in response to a Brexit shock or another recession.”

Mark Carney the BoE governor has stepped up the Banks issue on climate change, he said earlier this month, “the whole financial sector has a crucial role to play” and they will step up their assessments of green projects.

The “Campaigners want to ensure that future QE will help rather than hinder the green transition.”

The last few weeks London businesses lost millions due to Extinction Rebellion protests causing havoc for many Londoners and targeting trains and blocking roads.

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