Britain’s Sunak Pledges to ‘Rewire’ Global Finance System for Net Zero

U.K. Chancellor Rishi Sunak spoke today at COP26 pledging to rewire the entire global financial system for net zero and make the U.K. the first-ever net-zero-aligned financial center. Outlining Britain’s strategy over the next five years, he committed 100 million pounds (approx $136 million) to make climate finance more accessible to developing countries. He also said London would support a new capital markets mechanism to issue billions of green bonds.