UK Finance responds to shadow chancellor John McDonnell speech on climate change

Responding to the Shadow Chancellor John McDonnell's speech today at UK Finance on the financial sector and climate change, Chief Executive of UK Finance Stephen Jones said:

The Shadow Chancellor has today posed the question of whether the financial sector is up for rising to the challenge of climate change. Achieving net zero carbon by 2050 is a difficult but critical target that we must all work together to address and as an industry we stand ready to respond.

Only last week the governor of the Bank of England credited the first steps taken by business, including financial services, to put in place the framework offered by the Taskforce on Climate-related Financial Disclosure.

Describing what is needed as a ?green industrial revolution? is by no means an overstatement. Banking and financial services will not be found lacking.

Notes to editor

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UK Finance is the collective voice for the banking and finance industry. Representing more than 250 firms across the industry, we act to enhance competitiveness, support customers and facilitate innovation.</li>
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Shadow Chancellor John McDonnell was speaking today at the offices of UK Finance in London. A full copy of his speech can be found <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c…;. </li>
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Governor of the Bank of England Mark Carney?s speech last week including remarks on the finance sector and efforts to tackle climate change can be found <a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c…;
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Tags:

Green finance