Companies that fail to act on the climate change they cause will be axed from the stock exchange, under radical Labour plans.

John McDonnell, the shadow chancellor, pledged his government would ensure firms are “pulling their weight” to tackle the “existential threat” to the planet.

And he warned: “For those companies not taking adequate steps under Labour they will be delisted from the London Stock Exchange.”

Vowing to “rewrite the rules” of the economy to benefit workers, Mr McDonnell also insisted curbing the climate crisis would be “Labour’s overriding priority” if it wins the general election.

The Corporate Governance Code would be beefed up to “set out a minimum standard for listing related to evidencing the action being taken to tackle climate change”.

via Climate change: Firms failing to tackle crisis will be delisted from stock exchange, Labour says | The Independent