Wednesday, December 8

BoE tweaks corporate bond scheme to spur climate action

Article content

LONDON — The Bank of England said on Friday it would introduce new rules for its 20 billion-pound ($26.9 billion) Corporate Bond Purchase Scheme which would seek to favor companies which are doing more to reduce their impact on the climate.

“Firms will now also need to satisfy climate-related eligibility criteria for their eligible bonds to be purchased by the CBPS, with purchases of firms’ debt being’tilted’ towards the stronger climate performers within their sectors,” the BoE said in a statement .

($1 = 0.7445 pounds) (Writing by William Schomberg, editing by Andy Bruce)