'Hidden subsidy': Bank of England urged to stop accepting fossil fuel assets as collateral for public loans

Cecilia Keating
clock • 2 min read
'Hidden subsidy': Bank of England urged to stop accepting fossil fuel assets as collateral for public loans

Inclusion of fossil fuel assets in central bank's collateral framework is boosting value of coal, oil, and gas holdings, campaigners warn

Campaigners have accused the Bank of England of providing a "hidden subsidy" to fossil fuel companies, as they stepped up calls for the central bank to reform the way it lends public money to financiers....

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech development
  • Tap into our extensive archive of exclusive articles, news, analysis and guide
  • Access to our new BusinessGreen intelligence service, providing you with
  • > Exclusive in-depth case studies
  • > Policy briefings, white papers and reports on market trends that are shaping the direction of the net zero transition
  • Our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Online and interactive meetings with BusinessGreen’s editors to discuss the crucial stories and trends from the past month

Choose from 3 paid membership levels or start a 7-day no strings trial.

Join nowTry 7 day trial

 

Already a BusinessGreen member?

Login

More on Policy

Can the UK retain its green competitive edge?

Can the UK retain its green competitive edge?

Manufacturing has fallen sharply in the UK over the past three decades, but electric vehicles, heat pumps, and wind turbines could hold the key to turning things around, according to a major new report

Michael Holder
clock 15 May 2024 • 9 min read
Carbon customs: What the UK can learn from the EU CBAM

Carbon customs: What the UK can learn from the EU CBAM

The first reporting period of the EU's carbon tariff scheme offers lessons for businesses looking for a head start on aligning with the future UK CBAM, writes EcoAct's Chimdi Obienu

Chimdi Obienu, EcoAct
clock 15 May 2024 • 5 min read
Can the UK deliver food security in an age of climate crisis?

Can the UK deliver food security in an age of climate crisis?

The Prime Minister has hailed the UK's new Food Security Index as a 'landmark moment' - but does it go far enough in tracking the escalating climate risks faced by the UK's food system?

Cecilia Keating
clock 14 May 2024 • 7 min read