Shadow Chancellor’s threat to FTSE firms which are not ‘green’ enough: John McDonnell warns big businesses they’ll be delisted from London Stock Exchange if they don’t take ‘adequate steps’ to tackle climate change
- Mr McDonnell said a Labour government would address the ‘climate emergency’
- This would be done by ‘weeding out’ UK-listed firms ‘not taking it seriously’
- He said he’d make climate change defining criterion of investment decisions
Shadow Chancellor John McDonnell has sent shockwaves through big businesses by warning that they will be delisted from the London Stock Exchange if they fail to take ‘adequate steps’ to tackle climate change.
Mr McDonnell said a Labour government would address the ‘climate emergency’ facing the planet by ‘weeding out’ UK-listed firms who were ‘not taking it seriously’.
His remarks, in an interview with The Guardian, come after The Mail on Sunday revealed last month that Mr McDonnell was directly involved in a civil disobedience campaign against Britain’s high street banks.
Mr McDonnell said a Labour government would address the ‘climate emergency’ facing the planet by ‘weeding out’ UK-listed firms who were ‘not taking it seriously’
He is helping to whip up a wave of climate change protests by the hard-Left Momentum group, involving demonstrations and sit-ins at dozens of branches.
And he told activists that a Labour government would make climate change the defining criterion of its investment decisions.
Mr McDonnell said in his interview: ‘We’ve got to signal now that we’re being serious about tackling climate change.
‘We’re now going to discuss how we can insert tackling climate change as one of the criteria for listing on the London stock market.’
Asked whether he would delist firms who had not put plans in place to tackle the issue, Mr McDonnell replied: ‘Yes’.
He said that Labour would form a ‘red-green’ government to push Britain towards a low-carbon economy.
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