By News on the Net -- NET ZERO WATCH——Bio and Archives--May 30, 2023
Global Warming-Energy-Environment | CFP Comments | Reader Friendly | Subscribe | Email Us
London, 30 May - Campaigning group Net Zero Watch has strongly criticised the Bank of England for wasting time on Net Zero virtue signalling.
It has been reported today that the Bank has spent £150,000 on an inconclusive study on the carbon footprint of its banknotes.
In 2021, Rishi Sunak gave the Bank a new mandate to fight climate change and help to achieve the Govt’s Net Zero policy, a move that has since been widely criticised for distracting it from its key role in combating inflation.
Former Chancellors Ed Balls and George Osborne have both called for the mandate to be cancelled so that the Bank can focus on its core mission.
Net Zero Watch director Andrew Montford said:
It’s
preposterous for the Bank to be worrying about tiny carbon footprints
at a time of high inflation. Reasonable people will conclude that the
Old Lady of Threadneedle Street has lost the plot, and will ask
themselves whether this is why the inflation target has been so badly
missed.
Contact: awmontford@gmail.com
News from around the world