The Bank of England has announced that it will no longer buy bonds from companies that make money from coal mining as firms will be required to satisfy “climate-related eligibility criteria” to be purchased.
In a paper released on Friday (5 November) the BoE said the purchases of eligible firms' debt would be "tilted" towards the stronger climate performers. Issuers with any coal mining activities are ineligible. Issuers using thermal coal in their activities are also ineligible unless they meet stringent criteria related to: eliminating existing activity in line with science-based pathways; reducing emissions over time; and renewable energy provision. Chris Cummings: Asset management industry 'front and centre' at COP26 The extent to which purchases are tilted either towards or away f...
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