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Share Price: 202.00
Bid: 202.40
Ask: 202.50
Change: -3.15 (-1.54%)
Spread: 0.10 (0.049%)
Open: 205.75
High: 206.10
Low: 197.68
Prev. Close: 205.15
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UPDATE 1-LSE CEO expects Biden to have 'huge' impact on climate politics

Mon, 09th Nov 2020 11:11

* Biden set to take back into Paris climate accord

* Other climate-related policies expected to follow

* Barclays CEO Jes Staley says election "a significant move"
(Adds Barclays CEO comment, background, bullet points)

By Guy Faulconbridge and Simon Jessop

LONDON, Nov 9 (Reuters) - London Stock Exchange
Chief Executive David Schwimmer said on Monday that Joe Biden's
election win in the United States would have a major impact on
global climate politics.

Asked if a new president would change the United States'
contribution to the climate debate, Schwimmer said: "Short
answer is 'yes' - big change."

Biden has put climate change at the centre of his election
campaign and, as well as rejoining the Paris Agreement on
climate, has promised sweeping measures to make the country
carbon neutral by 2050.

"Huge impact in terms of having the U.S. joining the effort
to deal with climate change as opposed to being out there on its
own," Schwimmer told the Green Horizon Summit.

"The timing is actually pretty remarkable in terms of the
U.S. leaving the Paris Agreement a couple of days ago and then
President-elect Biden indicating that it will be one of his
first actions in office," he added.

Speaking on the same panel, Barclays CEO Jes Staley said he
echoed Schwimmer's comments.

"The election is a significant move. What COVID-19, in part,
is showing is we are on this boat together and getting a major
economy like the U.S. aligned once again with the Paris
accord... is quite a significant and a positive step."

Both were speaking at the start of a three-day summit in
London, designed to mobilise the financial sector in the run-up
to a U.N. climate change conference due to take place in Glasgow
in late 2021.
(Reporting by Guy Faulconbridge; Editing by Kate Holton and
Alexander Smith)

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