Hi John,

From expert blogs on inflation and action on a public digital currency, to climate justice memorials and an open letter signed by an unprecedented number of MPs, it’s been a busy few months at Positive Money. Check out the highlights below:

• In September, we launched a petition in response to the government’s flawed Net Zero Strategy. Watch our head of policy and advocacy, Simon Youel, on BBC News explain why we need public institutions, not bank CEOs, to lead the way to a sustainable economy.

We’re calling on the government and the Bank of England to use all their muscle to turbocharge investment in green jobs and energy. Nearly 4000 people have already signed our growing petition. Please will you add your name now?

• In early September, we helped thousands of people respond to an important Bank of England public survey on the future of digital money. Our money system could soon be transformed by new forms of private sector digital money, such as ‘stablecoins’. To counter the risks they pose, we'll need digital public money to keep our payments system safe, fair and inclusive.
• Big tech and card companies (like Visa) will be trying to shape any changes to maximise their profits. But Positive Money strongly believes we need our payment system to work for the public. So that’s why we’re working to raise public awareness. Check out this 2-minute introductory video that thousands have already watched.

On Friday 29th October, on the eve of COP26, we joined an inspiring international day of action calling for an end to finance for fossil fuels. Youth strikers and climate activists took to the streets demanding banks #DefundClimateChaos. We created this video to explain why campaigners were targeting central banks.

Alongside youth activists from the Pacific Islands, our Senior Economist, Danisha Kazi spoke at the flagship National Climate Justice Memorial event outside the Bank of England. Hundreds of us lit candles and released lanterns to pay tribute to the countless lives lost to ecological breakdown and celebrate the resistance of communities on the frontlines of climate change.

On the same day, Positive Money and Friends of the Earth supporters Susie and Louise, organised a demonstration outside Barclays in Totton. They highlighted Barclays’ role in the climate crisis - funding $3.8 trillion in fossil fuel extraction since the 2015 Paris Climate Agreement. They did an amazing job chatting to passers by and the bank manager!

To coincide with COP26, we launched an updated version of our Green Central Banking Scorecard - and it’s been referenced in media outlets all over the world. The Bank of England, our central bank moved down to 5th place scoring a disappointing C-. Check out this Twitter thread for a breakdown of the scorecard or read the full report here.

Back in September, thousands of Positive Money supporters asked their MPs to sign our open letter to the Governor of the Bank of England, demanding regulation to restrict fossil fuel investment.

Together, we got over 85 cross-party parliamentarians to sign it. High-profile signatories included Liberal Democrat leader Ed Davey, SNP deputy Westminster leader Kirsty Blackman, Conservative Peer Ros Altmann and former Shadow Chancellor of the Exchequer, John McDonnell.

We got loads of coverage of the letter in the media, including an op-ed in The Times written by former Green Party leader Caroline Lucas. And the Positive Money team did their best to deliver the letter in style! Thank you to all our fantastic supporters who emailed their MPs 💚

In the last few years, Positive Money UK and Positive Money Europe have helped bring money and banking reform to the forefront of mainstream debate. We’re now pleased to announce the launch of Positive Money US 🚀 🎉

Our first staff member, Akiksha Chatterji, has already had great success! Members of US Congress, Alexandria Ocasio-Cortez, Rashida Tlaib and Ayanna Pressley cited our central bank scorecard as evidence of the Federal Reserve’s poor performance on climate. Read about it in The Washington Times. Check out this video to find out more. Follow Positive Money US on Facebook, Twitter and Instagram for updates!

August

• Coverage of our green central banking scorecard in Reuters, Al Jazeera, BBC News, The Guardian, The Daily Mail and The Hill.
• Our opposition to a proposed removal of the cap on bankers bonuses in Reuters.
• A letter to the Editor in Bloomberg from our senior economist David Barmes, refuting claims of former governor Mervyn King about central banks and climate change.

September

• We criticised the Bank of England's appointment of another former Goldman Sachs banker to its Monetary Policy Committee in Sky News, The Times, City AM and The Guardian.
• David Barmes spoke to the Financial Times about potential greenwashing in government bond sales.

October

• We condemned NatWest's involvement in huge-scale money laundering in Morning Star, and delivered our open letter to Andrew Bailey at the Bank of England.
• We denounced the tax cuts for banks announced in the chancellor's budget in a piece for Tribune Magazine, and in comments to The Guardian and Mirror.
• Our head of campaigns and organising, Rachel Oliver, authored an article for The Ecologist, highlighting banks' central role in the climate crisis.

November

• We responded to the government's announcement that UK financial firms will need to publish net-zero transition plans in BBC News, The New Statesman, Express, The Daily Mail and The Guardian.
• We commented on the Bank of England's announcement about "greening" its corporate bond purchases in the Financial Times, the need to put the planet over profits in the FT, and how to spot businesses greenwashing in BBC News.

Who is shaping the future of our money and payments system? by Simon Youel

The Pot of Money myth that keeps us in the dark by Jack Mosse

Finance, Old and New and the climate crisis in the global South by guest author, Dr Keston Perry

Raising interest rates won’t fix inflation and could harm the recovery by Danisha KaziIs the Bank of England using the wrong tools? by Simon Youel

It’s been an eventful few months at Positive Money - only possible thanks to the kindness and generosity of supporters. Thank you to everyone who has donated, signed petitions, emailed MPs, organised and joined actions. Positive Money is a people-powered movement that relies on the determination and enthusiasm of our supporters to instigate change and fight for a fairer economy that works for everyone.

Thank you for all that you do,

Nicole, Chloe and the entire Positive Money team

Positive Money relies on donations from generous individuals like you to carry out our research, education work and campaign for a fairer money and banking system.
Please will you make a secure donation now so together we can win sooner?

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