The UK promises to be the world’s first 100% ‘green’ financial hub – Executive Digest

The fourth day of COP 26 was marked by the United Nations Climate Change Conference, focusing on the financial markets and the role of ‘players’ in this field on the “path of decarbonization”.

The day began with a pledge from Boris Johnson’s Treasury President Rishi Sunak, who promised that the UK would become “the world’s first carbon neutral financial hub”.

The announcement comes after a number of investment firms, banks, brokers and insurers announced a $ 130 billion joint venture in support of the environment last night.

The Chancellor also promised that developed countries would fulfill their promise of raising $ 100 billion a year in climate funding, although he acknowledged that this would not happen “soon”.

Over the next five years, the world economic elite promises to invest a total of $ 500 billion in the fight against climate change.

During COP 26, Sunak had already stated that the United Kingdom, along with 30 other countries, which represent more than 70% of world GDP, had “pledged to do so.” Support the development of new global climate report standards developed by the IFRS Foundation and provide investors with the information they need to fund carbon neutrality in the markets.