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Dear John,
Today is ‘finance’ day at COP. The Chancellor Rishi Sunak announced that big companies and banks will soon have to show their plans to go low-carbon. [1] It’s a good step. But it’s not nearly enough. If we want to protect life on earth, we need our government to do big-scale public investment to make the way we live and work together safe and sustainable.
As our Head of Policy, Simon Youel said live on BBC news today: “Public finance needs to do the heavy lifting if we’re going to get a fair, green transition.” [2] Corporate CEOs are driving the climate crisis with their hunt for profits - they won’t be the ones to get us out of it.
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Positive Money was set up to tell the truth about how governments and their central banks are the creators of money, so we can always afford the things society agrees we need. And the scientists couldn’t be clearer: we need to protect our planet.
In Sunak’s Budget last week, he announced some public money to help the green transition, but it wasn’t enough. [3] In the summer, researchers from Positive Money and the New Economics Foundation wrote a report: A UK Roadmap to Greening Finance and Building Back Better. [4] It makes it clear we need the government and Bank of England to invest big.
John, 80% of British people now believe the climate crisis is a global emergency. The public are more worried than they’ve ever been before. [5] So together, we need to use all our people power to push for the right action by our leaders. Together we need to show them just how many of us demand they fund a fair, green transition now.
Please will you join us and sign the petition now? |
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Thank you for all you do,
Rachel, Chloe, Nicole and the rest of the Positive Money team
PS: Last Friday, Positive Money staff and supporters took part in an incredible global #DefundClimateChaos action led by youth climate activists on the frontlines of resistance. Here’s a short video of Pacific Islanders at the climate justice memorial event outside the Bank of England.
[1] Positive Money Senior Economist David Barmes was quoted in this leading BBC article today: COP26: UK firms forced to show how they will hit net zero: https://www.bbc.co.uk/news/business-59136214 Positive Money response: Mandatory transition plans and GFANZ announcements: [2] Positive Money’s Head of Policy and Advocacy, Simon Youel explained in an interview on BBC News why we need governments to be leading the way in driving the transition: https://twitter.com/PositiveMoneyUK/status/1455888618355052555 [3] The New Statesman: “Utter moral failure”: Why Rishi Sunak’s Budget was anything but green: [4] Positive Money: Greening Finance to Build Back Better: A UK Roadmap Ahead of COP26: https://positivemoney.org/publications/greening-finance/ [5] The Guardian: Cop26: polling data is overwhelming – people want leaders to act: https://www.theguardian.com/environment/2021/nov/01/cop26-polling-data-is-overwhelming-people-want-leaders-to-act Energy Live News: UK public concern about climate change 'at record highs’:
https://www.energylivenews.com/2021/11/01/uk-public-concern-about-climate-change-at-record-highs/ |
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