Labour warns it will delist companies not tackling climate change

McDonnell to 'rewrite the rules' of business

A Labour government could delist large companies if they do not take "adequate steps" to tackle climate change, shadow chancellor John McDonnell said in a speech in Westminster today (19 November).

Setting out the current opposition's policies on business, McDonnell said the party would "rewrite the rules" with a business model not based on "unfettered pursuit of profit maximisation". This, he added, would help workers and consumers to "take back control". McDonnell set out a number of radical steps, but explained the "existential threat of climate change is Labour's overriding priority". The UK Corporate Governance Code would be changed to "set out a minimum standard for listing related to evidencing the action being taken to tackle climate change", said McDonnell. UK invest...