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John McDonnell/Creative Commons

"We need to ensure that companies are pulling their weight alongside government."

Call it a Labour of love for Planet Earth. John McDonnell, the Labour Party's Shadow Chancellor in the United Kingdom's Parliament, has proposed a bold new initiative that would require companies to do their part to help combat climate change.

Under the proposal, companies that aren't "pulling their weight" on environmental reforms could see their status in the London Stock Exchange threatened. McDonnell said the proposal was necessary to "ensure that companies are pulling their weight alongside government." The London Stock Exchange represents more than 2,000 companies from 60 nations and an estimated wealth of nearly $5 trillion U.S. dollars.

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