Bank of England’s Net Zero Focus Raises Concerns Over Inflation-Fighting Capability, Warn Lords

A think tank has warned that the Bank Of England may be under threat from ‘ESG mission creep,’ while warnings are raised about effects of quantitative easing.

A view of the Bank of England in London, on Feb. 2, 2023. Yui Mok/PA Media

The Bank of England’s commitment to achieving net zero carbon emissions is raising concerns about its effectiveness in addressing inflation, according to a report by the Economic Affairs Committee (EAC) in the House of Lords.

The House of Lords EAC released a comprehensive report yesterday that delves into the operational independence of the Bank of England, raising crucial concerns over a perceived “democratic deficit” in its leadership.