Bailey says firms should collaborate not disengage with high carbon suppliers

The video discusses the financial sector's crucial role in financing the transition to net zero, emphasizing the predictability of climate change and the need for proactive measures. It highlights the potential for economic growth through substantial investments in the transition and the importance of planning and coordination among governments, industries, and consumers. The government's 2023 Green Finance Strategy and the Bank of England's role in ensuring financial system resilience to climate risks are also covered.

Why is there no excuse for failing to tackle climate change?

• Because it is less important than pandemics

• Because it is highly predictable

• Because it is highly unpredictable

• Because it is less important than wars

What is a potential benefit of transitioning to net-zero?

• Decreasing the economic growth rate

• Reducing the role of governments

• Increasing the economic growth rate

• Eliminating the need for investments

Who are the primary drivers of the transition to net-zero?

• Only consumers

• Governments, industries, private finance, and consumers

• Only private finance

• Only governments

What is the purpose of the 2023 Green Finance Strategy?

• To eliminate the role of private finance

• To form a group to advise on mobilizing capital for net-zero

• To increase consumer spending

• To reduce government spending

What is the role of the Bank of England in the transition to net-zero?

• To ensure the financial system is resilient to climate risks

• To reduce the financial system's involvement

• To increase the financial system's risks

• To eliminate the need for financial support