Activists push the EU to implement ‘one for one’ rule 

Following similar requests for the Bank of England, environmental activists from around the world call on the European Parliament to introduce capital requirements that force banks and insurers to match each euro of financing for fossil fuels with one euro of their own funds.

Last month, Bevis Watts, the CEO of Triodos Bank UK, added his name to a letter sent to the Bank of England by academics, economists and climate campaigners. It argued that a failure by the Bank of England to address fossil fuel production and exploration would create physical and transition risks and ultimately “undermine financial stability”.