Bank of England has revealed its plans to line up the CBPS (corporate bond purchase scheme) with United Kingdom’s net zero target.
The bank released a paper last week that establishes proposals for implementing emission targets for its holdings, while accelerating its investments into greener firms and activities.
At Bloomberg-hosted event on Friday, the bank’s executive director Andrew Hauser confirmed that decarbonization of the CBPS is a real plan and that the bank tries to address the long-lasting criticism for sponsoring high-carbon companies and deliver a net zero economy.
According to the new plans, the bank would implement more stringent demands and requirements for the CBPS firms, and there will be consequences for the issuers who will not meet these requirements.
Source: Business Green