'Dirty little secret': Finance sector revealed as one of UK's biggest contributors to climate change

Banks and investors responsible for emissions

Pedro Gonçalves
clock • 3 min read
UK banks and asset managers financed carbon emissions that were 1.8 times the annual net emissions of the UK as a whole
Image:

UK banks and asset managers financed carbon emissions that were 1.8 times the annual net emissions of the UK as a whole

UK banks and asset managers were responsible for financing 805 million tonnes of CO2 in 2019, which would make the City of London the ninth biggest emitter in the world if it were a country, according to a report by Greenpeace UK and WWF.

The new research points towards finance as one of the UK's largest contributors to climate change and supports calls for regulation to be introduced across the sector to bring it into line with Paris Agreement...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space

  • Get ahead of regulatory and technological changes affecting fund management

  • Important and breaking news stories selected by the editors delivered straight to your inbox each day

  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts

  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

The Chancellor speaks at the Global Investment Summit on 18 October
ESG

UK raises £6bn for green projects in second green gilt

Treasury claims issuance puts UK in top three national issuers of green bonds worldwide, with £16bn raised so far

Cecilia Keating
clock 22 October 2021 • 2 min read
The Aegon Global Sustainable Sovereign Bond fund will be managed by government bond specialists within Aegon AM’s global fixed income platform
ESG

Aegon launches Global Sustainable Sovereign Bond fund at COP26

Strategy will be seeded with £100m from Aegon UK workplace pension fund

Pedro Gonçalves
clock 22 October 2021 • 2 min read
Federated Hermes: Request and expectations for COP 26
ESG

Federated Hermes: Request and expectations for COP 26

Federated Hermes spokespeople offer their perspectives

clock 22 October 2021 • 1 min read