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‘Woke’ banknotes: Bank of England orders money printer to follow ESG rules
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‘Woke’ banknotes: Bank of England orders money printer to follow ESG rulesThe Bank of England's has been accused of being "woke".
The Bank of England is facing backlash over its plans to make a new banknote printer comply with ESG and diversity standards under a “pass or fail” regime.
Bank officials have attracted criticism from shadow business secretary Andrew Griffith over their plans to make applicants for the UK’s new money printing contract follow stringent criteria on areas including sustainability and equality.
Under the terms of the £900m contract, applicants are required to follow key conditions on ESG, equality and diversity and carbon reduction.
Bank of England under fireA Bank of England spokesperson said legislation on procurement allowed “set conditions of participation” for suppliers hoping to be awarded the lucrative contract.