Bank of England Says Its Rate Setters Discussed Climate for First Time
- Governor Andrew Bailey is building the case for action
- BOE using bank supervisory powers to prod finance industry
Andrew Bailey
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Bank of England Governor Andrew Bailey said that the central bank’s Monetary Policy Committee recently discussed the economics of climate change for the first time, underscoring the U.K. commitment to slashing emissions.
“When it comes to climate change, we cannot stand still,” Bailey said in a speech to a Bank of International Settlements conference on the issue on Thursday. “We need to continue to be bold and learn from our work so far to deepen our understanding and inform future actions.”