The Bank of England Has a Coal Problem

By [email protected] Calls for the financial system to wake up to the looming threat of climate change are growing louder by the day. Those calls have been coming most clearly from the Bank of England under Governor Mark Carney, who last week warned the treasury committee of global finance’s role in driving the climate crisis.

The problem is that despite his rhetorical leadership on climate change, the Bank of England has a coal problem.

The United Kingdom was the birthplace of the Industrial Revolution, and home to a power mix that as recently as 2012 was 40 percent coal-powered. Yet it has emerged

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