Bank of England needs more powers to decarbonise economy, say experts

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Academics call for urgent changes to Bank’s mandate to help UK hit carbon zero target

Urgent reforms of the Bank of England are needed to help decarbonise the financial system and boost green investment as Britain recovers from the Covid-19 pandemic, a group of leading academics has said.

The New Economics Foundation thinktank and Positive Money campaign group said landmark changes needed to be made by the government to give Threadneedle Street more powers to cut carbon emissions.

Related: No 10 and Treasury clash over spending on environmental agenda

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