UK tells private sector it must invest big to save planet
ABC News
Britain is calling for the world’s financial industry to channel its vast funds toward greener investments to ensure that efforts to curb global warming succeed
GLASGOW, Scotland -- Britain called Wednesday for the world's financial industry to channel its vast funds towards greener investments to ensure that global efforts to curb global warming succeed.
Treasury chief Rishi Sunak said that while the U.K. government is providing fresh financing to help poor countries cope with climate change, “public investment alone isn’t enough.”
Speaking at the U.N. climate summit in the Scottish city of Glasgow, Sunak said U.K. financial institutions and publicly traded companies will be required to publish plans detailing how green their investments and their own businesses are — in order to ensure they're actually contributing to reductions in global warming.
As home to the City of London, one of the world’s major financial centers, the U.K. “has a responsibility to lead the way” in financing those and other efforts to fight global warming, said Sunak.
