On 27 February 2020, the Bank of England (BoE) announced the launch of the COP 26 Private Finance Agenda. This agenda has been launched to help private finance support the whole economy transition to net zero. To achieve net zero, every company, bank, insurer and investor will need to adjust their business models for a low carbon world.
Mark Carney said: “Given the scale of the climate challenge and the rising expectations of our citizens, 2020 must be a year of climate action where everybody’s in, and that includes the world’s leading financial centre. To identify the largest opportunities and to manage the associated risks, disclosures of climate risk must become comprehensive, climate risk management must be transformed, and investing for a net-zero world must go mainstream.”