UK banks join pledge to come clean on climate change risks

Bank of England governor Mark Carney has announced growing global support for a new initiative designed to help pave the way to a low-carbon economy by persuading firms to come clean about their exposure to climate-change risks.

Speaking at the One Planet Summit in Paris, Carney said he was delighted that 237 companies with a combined market capitalisation of $6.3tn (£4.7tn) were now backing the scheme.

Britain’s six leading banks – Lloyds, Barclays, HSBC, Royal Bank of Scotland, Santander and Standard Chartered – have all supported the Task Force on Climate-Related Financial Disclosures, set up by Carney in his role as chairman of the Financial Stability Board, an international body charged with preventing a repeat of the 2008 banking crisis.

https://www.theguardian.com/business/2017/dec/12/uk-banks-join-multinationals-pledge-come-clean-climate-change-risks-mark-carney?CMP=twt_a-environment_b-gdneco

photo credit: Harshil.Shah

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