UK tells private sector it must invest big to save planet

By FRANK JORDANS and DANICA KIRKA
Associated Press

GLASGOW, Scotland (AP) — Britain is calling for the world’s financial industry to channel its vast funds toward greener investments to ensure that efforts to curb global warming succeed. Treasury chief Rishi Sunak said Wednesday that while the U.K. government is providing fresh funds to help poor countries cope with climate change, public investment isn’t enough. Speaking at the U.N. climate summit in the Scottish city of Glasgow, Sunak called for a “historic wall of capital” to help countries, companies and cities meet their emissions-reduction goals. Still, poor countries are angry that Britain and other wealthy countries failed to meet their commitment to provide $100 billion a year to finance climate-related projects in the developing world by 2020.