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Tuesday 09 November 2021 9:16 pm

COP 26: Six in ten people support ban on finance firms making profits from fossil fuels

By: Nicholas Earl

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A majority of people in the UK believe finance firms should be prevented from profiting from fossil fuel extraction, according to a new survey from Opinium.

The poll shows that six in ten British people oppose banks, insurers and other finance firms making a profit from the digging up of coal, oil and gas.

Opinium surveyed 2,000 people and asked them to agree or disagree with banks, insurers and other private financiers from profiting from fossil fuel extraction

Opposition to profiteering runs across party lines, with 54 per cent of Conservative voters supporting restrictions alongside 77 per cent of Labour voters.

The new polling comes as the COP26 climate summit in Glasgow enters its second week, as negotiators push to agree on a final text.

China, US, India and Australia snubbed a global pact to phase out coal production over the next two decades.

All four countries responsible for over 50 per cent of coal emissions, but did not add their names to a pledge agreed with 48 nations.

The fossil fuel industry also reportedly has a bigger delegation than any country, with hundreds of sector representatives accredited to the key climate talks in Glasgow.

Read more

Standard Life partners with Goldman Sachs and CVC to fuel pension risk transfer business

Standard Life office building exterior, representing one of the UKs largest pension funds, in a business context

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