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Is cash now woke? The Bank of England is
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being accused of going woke over how
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your cash is printed. The bank has
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demanded its new money printer to sign
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up to strict criteria on sustainability,
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diversity, and net zero. Under a new 900
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million pound contract for money
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printing, manufacturers will have to
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prove they comply with sustainability
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standards, commonly referred to as ESG,
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as well as carbon reduction and
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diversity inequality. Bank officials at
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Thread Needle Street will judge whether
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applicants for the new contract pass or
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fail their set of conditions. Given its
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independence, political attacks on the
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Bank of England are rare, but the Tories
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have hit out at the new demands. Shadow
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Business Secretary Andrew Griffith said
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it shouldn't be worrying about finding a
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woke bank note printer and it should
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instead throw all of its resources into
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growing the UK's financial sector. The
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bank, meanwhile, affirmed that ESG
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conditions would be set out in full to
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applicants over the coming weeks. Some
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city firms and banks have maintained
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their commitment to ESG standards and
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net zero commitments. For example, a
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standard chartered boss hit out at banks
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for abandoning pledges. But such rules
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and practices have come under intense
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scrutiny in recent times. Low growth
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across the UK and President Trump's war
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against woke has fundamentally changed
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many investors approach to ESG. Several
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banks, for example, left the net zero
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alliance last year. The Bank of England
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and city regulators have previously been
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criticized over varying initiatives on
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diversity and ESG. So, do you think your
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money's gone woke? Let us know in the
