New listings of fossil fuel companies would be immediately banned on the London Stock Exchange as part of a proposal by the Liberal Democrats that the party says could help the UK become a leader in tackling the climate emergency.
Under the plan outlined to the Guardian by the Lib Dem leader, Ed Davey, another immediate policy would be to stop new bonds being issued in London to finance oil, coal or gas exploration.
Fossil fuel firms already listed in the UK would then have two years to produce a coherent plan about how they would reach net zero emissions by 2045, or risk being struck off the LSE.
In the longer term, pension funds would have to disinvest from fossil fuels by 2035, with all companies with fossil fuel assets removed from the exchange by 2045.
So it’s not on an exchange (as the bonds usually aren’t). This will lower the price by excluding the small investor. All the more money for private equity to make then.