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whatsapp During London Climate Action Week, a series of sustainability initiatives are capturing airtime. The City of London’s ‘Climate Action Strategy’ aims to make the Square Mile net-zero in its carbon emissions by 2040. A group of law firms has adopted a ‘greener litigation pledge’. And financial services, which form the backbone of the City, are keen to recognise their contribution to global warming and to reduce it. Laudable words, but do they translate to action? The inconvenient answer is that we don’t know. Central banks, regulators, corporations, and investors have become increasingly aware that sustainability matters, and that “non-financial” data are critical to the core institutions of the modern financial system. But for all the pledges and commitments to a greener future, the data required to understand how close we are to a truly sustainable City is sorely lacking.

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