European Union countries on Monday approved the bloc’s flagship fund to wean them off fossil fuels and protect communities most affected, paving the way for members to start receiving the cash.

Bank of England Governor Andrew Bailey said that the central bank’s Monetary Policy Committee recently discussed the economics of climate change for the first time, underscoring the U.K. commitment to slashing emissions.

President Xi Jinping has pledged that China will be carbon neutral by 2060, an effort that demands tighter rules on the metals industry. Last month, China’s ministry of ecology and environment issued a draft regulation that will require new energy-intensive projects to include an assessment of their carbon emissions for the first time. The regulation would cover six industries including thermal power, petrochemicals, coal-to-chemicals, steel, non-ferrous metals smelting and cement.

Officials have so far mostly stuck to traditional measures such as mandating risk disclosures, but things are changing…There are encouraging signs central bankers are realizing that the unprecedented nature of the climate problem means they have to take action, rather than just monitor data and respond.

Logistics giant UPS has unveiled new environmental, social and governance (ESG) targets that will see the company strive to become carbon neutral across its global operations by 2050. The new ESG strategy features a commitment to becoming a carbon-neutral business across Scope 1 (direct), 2 (power-related) and 3 (indirect) emissions.

Screwfix and B&Q’s parent firm Kingfisher has had carbon reduction targets consistent with the required pace to limit global warming to the 1.5C target of the Paris Agreement approved by the Science Based Targets initiative (SBTi), while both packaging firm DS Smith and consultants Turner & Townsend have unveiled net-zero commitments.

China’s state-controlled energy giant Sinopec aims to set up plants that can make 500,000 tonnes of hydrogen a year from renewable energy sources by 2025, a company executive said at a forum on Wednesday.