Mark Carney blasted over 'staggering apocalyptic doom' claim 'not enough money in world'

Critics, however, remain sceptical on the announcement.

The Glasgow Financial Alliance for Net Zero – which includes the companies and is headed by Mr Carney – was described as “toothless” and “ineffectual” by one NGO, as it sets its own rules on what counts as net zero.

In a report, Reclaim Finance said the alliance “eschew tangible measures on fossil fuels and emissions reduction in favour of cumbersome target-setting.”

The business organisation CBI called today’s announcements “steps in the right direction”, but called for consistency in climate standards from policy makers.

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