The Bank of England announced on Friday that new guidelines for its 20 billion pound ($26.9 billion) corporate bond-buying scheme will be implemented this month, favouring companies who do more to lessen their impact on the climate. 

According to the BoE, the revised qualifying requirements will direct purchases "towards the stronger climate performers within their industries." 

In 2016, the BoE launched the Corporate Bond Purchase Scheme alongside its much larger government bond purchase programme, as part of its economic stimulus package. 

Bank of England base rate remains at 0.1%

The government changed the BoE's remit in March to include support for the net zero transition.

The new criteria will apply to the BoE's planned reinvestment of maturing corporate bonds later this month, according to the bank.

"Our approach will be consistent with our goal of reducing the carbon intensity of the CBPS portfolio by 25% by 2025, on our way to full alignment with net zero by 2050," it stated. “Corporations will need to meet climate-related qualifying requirements as part of the Corporate Bond Purchasing Scheme.”