Climate activists painted the Bank of England black on Thursday, accusing the central bank of not doing enough to limit climate change. Activists from the Extinction Rebellion group said they used biodegradable paint to protest bank financing of fossil fuels. City of London police said they arrested one person for burglary and three others for criminal mischief. There were similar protests across Europe, including at the Banque de France.
Extinction Rebellion said the Bank of England has failed to regulate banks and is maintaining investments consistent with 3.5 degrees Celsius warming by the end of the century. This year, the Bank of England is testing the resistance of major banks, insurers and the financial system to different potential weather pathways, and said it supports the development of consistent international standards for reporting for weather risks. Of the UK-listed banks, Barclays BARC, + 0.27% have provided $ 145 billion in fossil fuel financing since the signing of the Paris climate accords, according to BankTrack, a nonprofit group. HSBC Holdings HSBA, + 0.54% has provided $ 111 billion, Standard Chartered STAN, -1.52% has provided $ 31 billion, NatWest NWG, -0.05% has provided $ 13 billion and Lloyds Banking Group LLOY, + 0.55% has provided $ 12 billion. The market was generally quiet heading into the long Easter weekend. The FTSE 100 UKX, + 0.47% rose 0.5% in midday trading, led to the upside by companies aimed at reopening the economy. Melrose Industries MRO, + 5.39%, the owner of aerospace components maker GKN, was up 5%, as did British Airways owner International Airlines Group IAG, + 4.82%. Engine maker Rolls-Royce RR, + 3.04% added 3%. Deliveroo Holdings ROO, -1.98% declined nearly 2% in London on its second day of trading, after dropping 26% on the initial day of trading for the food delivery company. Read: PwC allows UK based staff to choose start times and log out in early summer