Rishi Sunak: Clean Up The Big Smoke

 

 

 

 

 

 

 

 

 

 

 

Tell the Chancellor we need to stop the UK from bankrolling the climate crisis.

Rishi Sunak has the power to regulate the UK finance sector and freeze the billions in investments they are pouring into new fossil fuels.

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New research shows UK banks and big investors funnel hundreds of billions every year into fossil fuel companies and polluting industries.

If they were a country, City of London bankers and investors would be worse climate polluters than Germany or even Canada.

They literally bankroll the climate crisis and our government must stop them.

Tweet at Rishi today calling for new laws to stop our big banks and insurers from fuelling the climate crisis around the world.

Read the report

Find out more

What is happening in the Big Smoke?
If it were a country, the City of London’s finance industry would be a worse climate polluter than Germany or even Canada according to a new report by Greenpeace and WWF.
London banks like HSBC and Barclays and huge City investors like BlackRock funnel hundreds of billions of pounds every single year into fossil fuel companies and polluting industries. And they’re not stopping any time soon on their own.
Since the signing of the Paris Agreement – a legally binding international treaty on climate change, which aims to limit global temperature rises to 1.5°C – the world’s largest 60 banks alone have provided £2.7 trillion to the fossil fuel industry
City of London bankers and investors literally bankroll the climate crisis to make a profit… but at what cost?
Why target Rishi Sunak?

UK Chancellor Rishi Sunak has the power to regulate the UK’s financial sector.  Yet despite the scale of crises we face,  no one is forcing the banks to stop funding fossil fuel companies. 

UK finance is a high carbon industry, like oil and gas extraction, coal mining, aviation and transport. However, currently, financial institutions are not regulated in the same way as these industries and, when it comes to cutting emissions, they’re not legally required to align their activities with the UK’s or global climate commitments.

Banks and investors are doing as little as they think they can get away with. 

So they need to be pushed through strong new laws to freeze any new fossil financing. Without legislation that forces UK banks and investors to move their investments away from these industries much faster than their voluntary pledges aim to do, we will fail to meet the Paris target of 1.5C and avoid a climate crisis that will impact those least responsible first.

Read more about the Big Smoke report recommendations

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