UN envoy lays out strategy for financing climate battle
Former governor of the Bank of England Mark Carney, who is the U.N.s special envoy for climate change, laid out a strategy for financing efforts to cut carbon emissions, on Monday Nov. 9, 2020, calling on companies to be more transparent about their efforts. (AP Photo/Kirsty Wigglesworth, FILE)LONDON โ The U.N.โs special envoy for climate change on Monday laid out a strategy for financing efforts to cut carbon emissions, calling on companies to be more transparent about their efforts and the impact rising temperatures will have on their operations. He said Monday that companies need to go further by disclosing the risks climate change poses to their businesses and their plans for the future. Investors such as banks, insurance companies and investment funds should also disclose how their choices are aligned with climate goals, he said. โClimate change is a global challenge.
Bank of England awaits election outcome before moving rates
LONDON Under normal circumstances, the Bank of England would be looking to cut interest rates. On Thursday, the Bank of England is widely predicted to keep its main interest rate at 0.75% despite the gloomy economic backdrop. "The upcoming general election has added to the fog of political uncertainty already hanging over the U.K. economy because of Brexit," said Kallum Pickering, senior economist at Berenberg. Not everyone is convinced, with Johnson's political opponents arguing for alternative courses from scrapping Brexit to another referendum on Britain's membership. They claim his Brexit deal will just lead to further uncertainty that keeps investment in check and potentially forces the Bank of England to cut interest rates.