From this autumn, UK companies will be legally obliged to publish their carbon emissions. But there is a gaping hole in the new rules. Banks and pension funds will have to report the climate impact of the light bulbs in their offices, but they won’t have to say anything about the coal, oil and gas projects they might finance worldwide.
Some banks and pension funds are driving us towards climate disaster by providing vast sums of money for fossil fuel extraction. Many of these dirty energy projects also ruin the lives of the people who have to live with the effects of huge open-pit coal mines, or spills from oil drilling.
The government must make the banks come clean on the emissions from the fossil fuel projects they finance, so that we can push them to stop bankrolling climate change. After all, it’s our money they’re spending.