Positive Money

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Fancy learning more about Alternative Economic and Monetary Systems over 2 weeks this summer? Positive Money has one scholarship place to give away at the AEMS online summer school, taking place 19/7 - 6/8. Apply by 1st June 🎓 summer-university.net/aems-vienna/7
I have a new report out on how regulators should use bank capital rules to limit the chances of a climate-driven banking crash & ensure banks are well-positioned to support the clean energy transition. Thanks to @peteschroeder at @Reuters for covering it. reuters.com/business/susta…
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"Banks had 81 out of a total of 464 meetings with the Chancellor & top Treasury officials during the first 9 months of 2020 ..This is by far the sector with the greatest access to the Treasury despite an ongoing health emergency." ⁦@PositiveMoneyUKpositivemoney.org/2021/03/the-tr…
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Do tax-dodging corporations make you angry? Make your voice heard and sign! 👇 twitter.com/PositiveMoneyU…9
Cameron directly emailed the Bank of England to ask for privileged access to government funds. This intensive lobbying by financial firms is not a one-time event. It's time to close the corrupt revolving door between big finance and government. #Greensill
👀Standard Chartered Bank is lavishing on coal. @StanChartt is a climate killer that believes that progress is screwing over people and the planet. Let's stop Standard Chartered’s funding of fossil fuels!#CleanUpStandardCharteredd#RaiseYourStandardChartereddT
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The @G7 is around the corner and there are only 6 months left till @COP26. Here is what the UK must do to accelerate #ClimateAction: priceofoil.org/2021/05/11/uk-… #StopOilandGas #StopFundingFossils
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Which regulatory actions are most effective in aligning finance with sustainability goals? @GGKP_Finance, @INSPIRE_sec & @GRI_LSE launched a Sustainable Finance Policy Effectiveness working group. #EffectiveFinancePolicy 👉ggkp.org/SFEGDX
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House prices are up 8.2% in the last 12 months, the highest annual growth rate for five years. Banks and institutional investors must stop treating housing solely as an asset - for the rest of us, it is a basic need. bbc.co.uk/news/business-…
Find out more in our latest blog 👇 END (10/10). positivemoney.org/2021/05/uk-mov…c
That's why the government’s new Central Bank Digital Currency Taskforce is an important opportunity. We look forward to engaging with it to make the case for a truly public payments system that works for people & communities across the country 💡 (9/10)
Alongside physical cash, a CBDC would reduce the power of big banks and big tech. It would also help create a more innovative, purpose-led & diverse banking sector 🌿 We wrote a report on what this would look like which you can access here 👇 (8/10positivemoney.org/thefutureofcas…KS
#3 The threat of Big Tech 🤖 These trends have been accelerated by tech giants like Facebook planning their own digital currencies - stablecoins. These would be profit-driven, financially risky, & could cement the grip of big tech over our personal data & economy. (7/10)
#2 The decline of cash 💷 The number of payments made with cash is falling rapidly, from 20 billion in 2013 to less than 10 billion in 2019. We need to protect physical cash, but in a world where cash is declining, we also need a public alternative for digital payments. (6/10)
Why do we need a CBDC? #1 Privatisation of our payment system 🔏 We are completely reliant on high street banks & card companies to make digital payments. And the UK’s banking sector is highly concentrated, with just a few firms controlling most the market. (5/10)
What makes CBDC different? The money we see in our bank accounts does not represent banknotes & coins. It's brand new digital money created by private banks. A CBDC is different - it would be issued as a public currency by the Bank of England. (4/10)
We are currently beholden to card companies, private banks and tech giants to make essential digital payments 💳 A CBDC could start to lay the foundation for a public, accessible & democratic payment system. (2/10)Q
💸The UK government and the Bank of England are setting up a Central Bank Digital Currency (CBDC) Taskforce. What is a CBDC and why should you care? 🤔 A THREAD. (1/10eg
"We can’t rely on individual banks to support decarbonisation out of the goodness of their hearts.. We instead need action from regulators such as the Bank of England to address this systemic failure" 💪 ~ Our@youellogg in@Independentt@daisydunnescii independent.co.uk/climate-change…I
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We are looking for a new Operations and Events Manager ✨ Salary: £31k pa Apply by: Tuesday 18th May, 12noon For any questions or an informal chat about the role, please email us at [email protected] or comment below and we'll DM you ☀️ positivemoney.org/vacancies/oper…
"The financial crisis of 2008 had a shuddering effect on our politics.. our political elites are not ready to be honest about the need to borrow with purpose & boldness." ~ Fantastic article on why Sunak should "drink the kool-aid of Bidenonomics" 👇 #SpendToRecoverrtwitter.com/tortoise/statu…g
Global corporations like Amazon & Google should pay their fair share of tax. Tell @10DowningStreet to get behind US President Biden’s proposal to stop global tax dodging ahead of the @G7 meeting in June 👇💪@TaxJusticeUKU#taxjusticec#buildbackbetterer actionnetwork.org/petitions/supp…3B
The recording of the fourth and last session of the four part series by @rethinkecon_in on Rethinking the Care Economy is up on their YouTube channel. You can also check out all the recordings of the previous events there, we hope you enjoy it! youtube.com/watch?v=zDGOPl…
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🚨NEW JOB ALERT�@PositiveMoneyUKUK are looking for an OPERATIONS & EVENTS MANAGER to provide effective management of multiple functions in a fast-growing organisation - find out moreow.ly/hoUm50EGyQCK#eventsjobso#smartthinkingi#policyorgsrsVe
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"We can’t rely on individual banks to support decarbonisation out of the goodness of their hearts.. We instead need action from regulators such as the Bank of England to address this systemic failure" 💪 ~ Our@youellogg in@Independentt@daisydunnescii independent.co.uk/climate-change…I
The government has just announced a new Central Bank Digital Currency Taskforce 💰🪙💸 This could be a step towards reclaiming our money system from big banks, tech giants and card corporations. ~ Zack Livingstone with our latest blog positivemoney.org/2021/05/uk-mov…drfc
"Last year Positive Money ranked the Bank of England fourth out of G20 central banks for green policy but still scored Threadneedle Street D+ in its framework, highlighting the slow pace of the entire central banking system." Check out the scorecard 👇positivemoney.org/publications/g…q
"Positive Money is calling for the Bank of England to force all banks to draw up net zero plans & penalise them for lending to polluting companies". ~ @OscarWGrut on new @bankofengland plans to decarbonise its corporate bond buying programme ⬇️ uk.news.yahoo.com/bank-of-englan…
🛑Stop scrolling🛑 Are you an efficient administrator, project manager, event organiser? You could be our new Operations and Events Manager! The new deadline is Tuesday 18th May, 12noon.positivemoney.org/vacancies/oper…EV
Fancy learning more about Alternative Economic and Monetary Systems over 2 weeks this summer? Positive Money has one scholarship place to give away at the AEMS online summer school, taking place 19/7 - 6/8. Apply by 1st June 🎓 summer-university.net/aems-vienna/z
The Bank of England plans announced today: ➡️ Publish a framework this month ➡️ Seek feedback ➡️ Implement by Q4 of this year We look forward to seeing ambitious proposals later this month and hope the Bank will consult with a wide range of voices 🗣️ END. (5/5)
The Bank of England must bring its corporate bond purchases in line with our climate targets. Here's a great report by @NEF @CSF_SOAS @UWEBristol @UniofGreenwich on how it could do this: neweconomics.org/uploads/files/… @Frank_vanlerven @DanielaGabor @YannisDafermos @M_Nikolaidi (4/
Bonds purchased by the Bank of England through this £20bn scheme are currently aligned with 3.5°C of warming according to the Bank of England's own figures This is far above the 1.5°C upper limit we are committed to under the Paris Agreement. (3/)
Why should you care? The Bank of England’s corporate bond programme has previously seen the central bank buy up bonds from fossil fuel companies such as Shell, BP and Total. This means effectively subsidising polluting companies by lowering their borrowing costs 🤯 (2/
⚡️UPDATE ⚡️ Under its new green mandate, the Bank of England is moving ahead with plans to take climate impact into account in its corporate bond purchase scheme (CBPS). Dave Ramsden, Monetary Policy Committee Member 👇 (1/)C
"Its new ​‘net zero’ mandate empowers the Bank of England to help tackle the climate crisis... It could prove to be a game-changing moment." Great blog from @lukasz_krebel on what the Bank of England's new mandate could mean 👇twitter.com/NEF/status/139…2
We'll be watching the press conference at 1pm to see if the Committee answer any questions about climate action at the Bank. Tune in here: bankofengland.co.uk/monetary-polic…
The Monetary Policy Committee's mandate was updated by the Chancellor in March, to "reflect the importance of environmental sustainability & the transition to net-zero." We haven't seen any announcements about how the Bank will interpret this change. bloomberg.com/news/articles/…
The Monetary Policy Committee has a new mandate to support the net zero transition. But their latest report has no mention of "climate change", "fossil fuels" or "carbon". How long do we have to wait for the @bankofengland to align monetary policy with our climate targets? ⏰ twitter.com/bankofengland/…
🚨BREAKING: Yesterday, Barclays' AGM voted against aligning the bank with the Paris Agreement. Today we announce that 10 SUs have passed institutional boycotts of Barclays over their climate inaction. Fossil fuel funding must end now. Keep us winning:peopleandplanet.org/donateta
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If your business is going green, it's time your pension did too. Read more from the brilliant @CFigueres, @topnigel, @amandamack6 and our founder Richard Curtis on how to ensure the £2.6 trillion in our pensions builds a better world. theguardian.com/environment/20…
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⚡️Job alert⚡️ We've extended the deadline for our Operations & Events Manager role: - £31k, full time - NEW DEADLINE: 12noon, Tues 11th May Come and help us transform the economy! Get in touch with any questions & apply below 👇 positivemoney.org/vacancies/oper…V
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@Reuterss@JessopReuterss covered today our open letter that urges EU leaders to prop up bank and insurance capital levels on their fossil exposures via the upcoming review of#CRRR (for banks) and#Solvency22 (for insurance firms) [Thread]reuters.com/article/europe…C
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⚡️Job alert⚡️ We've extended the deadline for our Operations & Events Manager role: - £31k, full time - NEW DEADLINE: 12noon, Tues 11th May Come and help us transform the economy! Get in touch with any questions & apply below 👇 positivemoney.org/vacancies/oper…V
Our friends @TippingPointorg are hiring 🚨 👉 6 Regional Super Organisers ⌨️ 1 Web and Tech Guru ✊#EndFossilFinancece Organiser Come help them build grassroots power fo#ClimateJusticece Details and apply ASAP for 🔥 rolebit.ly/TPUKjobsCBi
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We can't tackle the climate crisis without addressing current & historic inequalities. Climate justice means rich countries - primarily responsible for historic emissions - contributing more. @hbriggs: calls for climate justice are shaking the world 👉bbc.co.uk/news/science-e…Ce
Despite talking a big game on climate, none of the 5 main UK banks - @Barclays, @HSBC, @StanChart, @NatWest, @LloydsBank - have a coal policy that matches best practice in the sector Together they provided $56bn to the coal industry between 2018 and 2020 bit.ly/3xHeZnA
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