{"id":259732,"date":"2023-05-30T17:02:50","date_gmt":"2023-05-30T15:02:50","guid":{"rendered":"https:\/\/climatescience.press\/?p=259732"},"modified":"2023-05-30T17:02:53","modified_gmt":"2023-05-30T15:02:53","slug":"net-zero-watch-says-bank-of-england-has-been-distracted","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=259732","title":{"rendered":"Net Zero Watch says Bank of England has been distracted"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"723\" height=\"378\" data-attachment-id=\"259736\" data-permalink=\"https:\/\/climatescience.press\/?attachment_id=259736\" data-orig-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00Screen-Shot-2023-05-30-at-14.39.38.png?fit=1080%2C564&amp;ssl=1\" data-orig-size=\"1080,564\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"00Screen-Shot-2023-05-30-at-14.39.38\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00Screen-Shot-2023-05-30-at-14.39.38.png?fit=723%2C378&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00Screen-Shot-2023-05-30-at-14.39.38.png?resize=723%2C378&#038;ssl=1\" alt=\"\" class=\"wp-image-259736\" srcset=\"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00Screen-Shot-2023-05-30-at-14.39.38.png?resize=1024%2C535&amp;ssl=1 1024w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00Screen-Shot-2023-05-30-at-14.39.38.png?resize=300%2C157&amp;ssl=1 300w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00Screen-Shot-2023-05-30-at-14.39.38.png?resize=768%2C401&amp;ssl=1 768w, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00Screen-Shot-2023-05-30-at-14.39.38.png?w=1080&amp;ssl=1 1080w\" sizes=\"auto, (max-width: 723px) 100vw, 723px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From <a href=\"http:\/\/Net Zero Watch\">Net Zero Watch<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It has been reported today that the Bank has spent \u00a3150,000 on an inconclusive study on the carbon footprint of its banknotes.<\/p>\n\n\n\n<figure class=\"wp-block-image is-resized\"><a href=\"https:\/\/www.telegraph.co.uk\/business\/2023\/05\/29\/bank-of-england-spends-cash-notes-carbon-footprint\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.netzerowatch.com\/content\/uploads\/2023\/05\/Screen-Shot-2023-05-30-at-14.10.53.png?resize=723%2C181&#038;ssl=1\" alt=\"\" class=\"wp-image-69979\" width=\"723\" height=\"181\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In 2021, Rishi Sunak gave the Bank a new mandate to fight climate change and&nbsp;<strong><a href=\"https:\/\/www.reuters.com\/business\/cop\/britain-set-out-how-finance-can-help-meet-net-zero-goals-2021-11-02\/\" target=\"_blank\" rel=\"noreferrer noopener\">help to achieve the Govt\u2019s Net Zero policy<\/a><\/strong>, a move that has since been widely criticised for distracting it from its key role in combating inflation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Former Chancellor George Osborne and his old sparring partner, Ed Balls, have&nbsp;<strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-04-25\/scrap-bank-of-england-s-climate-mandate-balls-and-osborne-say\" target=\"_blank\" rel=\"noreferrer noopener\">both called for the mandate to be cancelled<\/a><\/strong>&nbsp;so that the Bank can focus on its core mission.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Net Zero Watch director Andrew Montford said:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">It\u2019s preposterous for the Bank to be worrying about tiny carbon footprints at a time of high inflation. Reasonable people will conclude that the Old Lady of Threadneedle Street has lost the plot, and will ask themselves whether this is why the inflation target has been so badly missed.\u201d<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>It has been reported today that the Bank has spent \u00a3150,000 on an inconclusive study on the carbon footprint of its banknotes.<\/p>\n","protected":false},"author":121246920,"featured_media":259736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691819820,691819522,691818056,691818076,691818154],"class_list":["post-259732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-banknotes","tag-carbon-footprint","tag-climate-change","tag-co2","tag-net-zero","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2023\/05\/00Screen-Shot-2023-05-30-at-14.39.38.png?fit=1080%2C564&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-15ze","jetpack-related-posts":[{"id":286625,"url":"https:\/\/climatescience.press\/?p=286625","url_meta":{"origin":259732,"position":0},"title":"NatWest combs customer accounts \u2013 and tells them to go\u00a0vegetarian","author":"uwe.roland.gross","date":"11\/05\/2023","format":false,"excerpt":"NatWest is telling customers to stop eating meat and to drive electric cars after analysing their accounts to calculate their carbon footprint. 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