Climate change: UK calls on private sector to commit to major investments to save the planet

Governments and large investors on Wednesday unveiled new plans.

Numerous countries, including the UK, have announced plans to cut their greenhouse gas emissions to net zero over the next few decades in order to help stem human-caused climate change.

For example, some categorized as “fossil fuel restricted” owned holdings in oil refineries and traders.

There is a growing consensus that the private sector needs to be involved if the globe is to prevent catastrophic climate change.

“public investment alone isn’t enough.”Treasury chief

At the UN Climate Summit in the Scottish city of Glasgow, UK Finance Minister Rishi Sunak said that countries like United Kingdom were contributing fresh cash to help poor countries overcome climate change, but that “public investment alone isn’t enough.”

As part of the initiative, UK financial institutions and stock exchange-listed businesses will be required to publish plans setting out in detail how they will reduce their contribution to global warming, as the UK aims to cut net CO2 emissions to zero by 2050.

As the home of the City of London, one of the world’s most important financial centres, Britain has “a responsibility to lead the way” in funding attempts to fight global warming, Sunak said, potentially becoming ‘the world’s first net-zero aligned financial center.’

Mayor of London

The mayor of London is the head of the executive of the Greater London Authority. The role was created in 2000 after the Greater London devolution referendum in 1998, (wikipedia)


Financial Times

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Bank of England

The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government’s banker, (wikipedia)


Joe Biden

Joseph Robinette Biden Jr. is an American politician who is the 46th and current president of the United States. A member of the Democratic Party, (wikipedia)


Rishi Sunak

Rishi Sunak is a British politician who has served as Chancellor of the Exchequer since 2020. A member of the Conservative Party, he was previously Chief Secretary to the Treasury from 2019 to 2020. (wikipedia)


2021 United Nations Climate Change Conference

The 2021 United Nations Climate Change Conference, also known as COP26, is the 26th United Nations Climate Change conference. It is scheduled to be held in the city of Glasgow, Scotland, (wikipedia)


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Presidency of Joe Biden

Joe Biden’s tenure as the 46th president of the United States began with his inauguration on January 20, 2021. Biden, (wikipedia)


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Scotland ) is a country that is part of the United Kingdom. Covering the northern third of the island of Great Britain, (wikipedia)

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