Bank of England urged to do more to tackle climate crisis

Environmental groups call on the Bank to commission a review of monetary policy, taking into account the frequency of climate-related shocks. Photograph: Corey Rudy/Reuters

A coalition of 10 campaign groups is calling on the Bank of England to do more to tackle the climate crisis, a decade after the then governor Mark Carney warned of the “tragedy of the horizon”.

Carney, now prime minister of Canada, argued in a speech at Lloyd’s of London in September 2015 that the short time-horizons of politicians and policymakers made it difficult to tackle the climate emergency, despite the threat it posed to the global financial system.