London Stock Exchange must close doorways to oil and gas companies
Liberal Democrats proposed that new oil and gas companies not be listed on the London Stock Exchange (LSE) and ceased issuing bonds. The leader of Lib Dem, Ed Davey, told The Guardian that UK-listed companies will have two years to create a”one plan” net worth by 2045. If companies fail on this front, the LSE will get rid of them.
Davey demanded the withdrawal of pension funds by 2035. By 2045, the exchange will remove from the list any companies with fossil fuel assets.
The Lib Dem leadership proposal matches the Extinction Rebellion statement that protested this week against the financing of fossil fuels.
“So, if you really want to fight climate change, you have to have private capital to go from dirty to clean. And this is the UK’s important role in global leadership. The demand for climate change,” he told the Guardian.
Davey said the plan would only apply to companies that use fossil fuels for combustion.
The idea that investing in oil and gas companies is safe is a”lie,” he said. “They are not safe. If the city of London doesn’t take it seriously, it is risking its future.”
Davey lays out Neptune Energy’s plans for an IPO in London. Reports in May said the company could raise $ 5 billion.
The UK movement will demonstrate climate leadership, he said. “We don’t have to wait for someone else to do it. And we will also show leadership to other financial centers. I think New York will be in real trouble under President [Joe] Biden if Britain intercepts the march.
Davey says the current UK government is”completely useless” for the environment. He points to the potential dissatisfaction of the conservative seats, where people want more action to solve the problem. Climate change Resolution
Prime Minister Boris Johnson seemed to support the development. Opposition leader Keir Starmer has called on the government to abandon the Siccar Pointled project.
The Liberal Democrats published a climate policy document in 2019, at which time the party announced that the UK would continue to need oil and gas as feedstock for chemicals and hydrogen