U.K.’s Sunak Sees Need to Turn Paper Pledges Into Climate Action
- British finance minister speaks to Bloomberg at COP26 talks
- Chancellor pledges to ‘rewire’ finance sector toward net zero
Rishi Sunak, U.K. chancellor of the exchequer, speaks during the COP26 climate talks in Glasgow, U.K., on Nov. 3.
Photographer: Emily Macinnes/BloombergThis article is for subscribers only.
U.K. Chancellor of the Exchequer Rishi Sunak said the world must translate hundreds of billions of dollars of pledges from companies and governments into concrete action on climate change, as he hailed a new “wall of capital” directed toward eliminating fossil fuel emissions.
Sunak spoke in an interview at the United Nations climate change talks in Glasgow, Scotland, where earlier he’d vowed that the developed world will live up to a pledge to deliver $100 billion in climate finance a year. Also on Wednesday, more than 450 firms representing $130 trillion of assets promised to reach net zero carbon emissions by mid-century.