Business Standard

Sunday, December 29, 2024 | 11:14 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Britain's Sunak pledges to 'rewire' global finance system for net zero

"Six years ago Paris set the ambition, today in Glasgow we are provided the investment we need to deliver that ambition," he told an audience in Glasgow

Britain's Sunak pledges to 'rewire' global finance system for net zero

Reuters GLASGOW

British finance minister Rishi Sunak pledged on Wednesday to "rewire" the global financial system for net zero, saying London will also commit 100 million pounds ($136.19 million) to make climate finance more accessible to developing countries.

Outlining Britain's strategy over the next five years to the United Nations COP26 climate summit, he said in addition to the 100 million pounds, London would also support a new capital markets mechanism to issue billions of new green bonds.

"Six years ago Paris set the ambition, today in Glasgow we are provided the investment we need to deliver that ambition," he told an audience in Glasgow.

 

($1 = 0.7343 pounds)

 

(Reporting by William James, writing by Elizabeth Piper)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Nov 03 2021 | 3:32 PM IST

Explore News