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Hi John,
It’s time for a celebration! Andrew Bailey, the next governor of the Bank of England, has declared that excluding fossil fuels from the Bank's assets will be a "priority" when he takes over next week.
Getting rid of investments in companies like Shell and BP is an encouraging sign that Andrew Bailey plans to take the climate crisis just as seriously, or even more-so, than his predecessor Mark Carney. [1] It’s also a vital step towards greening our whole economy, because it signals to private banks and investors that high-carbon bonds are no longer a safe bet.
Bailey’s announcement came as he sat in front of MPs so we’ve been able to make a short video which we’d love for you to share to help us celebrate and reach more people with the good news!
Please John hit the buttons below to share our video on social media, it takes less than a minute and really helps us get the message out. |
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We’d sent him an open letter a few days beforehand, signed by 100 civil society organisations, prominent scientists and economists, making three key demands. [2] It was covered by The Guardian, City AM and Yahoo Finance to name just a few but most importantly, it caught the attention of one of the MPs on the Treasury Select Committee - Julie Marsden. [3]
She picked up on our call for the Bank to exclude fossil fuels from its quantitative easing programme and Bailey responded by saying that reaching carbon neutrality would be a “priority” because of the public’s interest in combating climate change.
Campaigning can be hard. Even when we win, it can be difficult to know if we were the reason somebody changed their minds or whether it was something else. And that’s what makes this victory even sweeter. Not only have we won on the issue - the new Bank of England governor looks set to abandon fossil fuels - but he cited the groundswell of public interest in climate change as a key reason for doing so.
Every single Positive Money supporter can be proud of this victory, because it was our people-powered movement that made the difference and pushed the Bank of England to act on the climate crisis. Moments like this prove that politicians and policymakers are listening to us and that when we come together to demand change, we can make it happen.
John please help us celebrate this big win by sharing our video today! |
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Thank you for all that you do,
Hannah, Zack and the rest of the Positive Money team [1] Major breakthroughs on central banks and climate change: https://positivemoney.org/2019/04/major-breakthroughs-on-central-banks-and-climate-change/ [2] “The Bank of England must lead the way on climate change” Open Letter to Andrew Bailey: http://positivemoney.org/wp-content/uploads/2020/03/Open-letter-to-Andrew-Bailey.pdf [3] HUGE WIN on greening the Bank of England!: |
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