Bank of England to stop accepting bonds linked to coal for key loans

The Bank of England announced it will no longer accept bonds tied to thermal coal as collateral for key loan arrangements, effective in October. Thermal coal—burned to generate electricity—is among the most carbon-intensive fuels on the planet. The Guardian reports that climate campaigners are celebrating the move, hoping it will pressure commercial banks to reconsider their holdings of coal-related assets.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton