The Bank of England (BoE) is leading by example and disclosing its own assessment of how it is managing climate-related financial risk in its 2019/20 annual report. The BoE have been pushing for stronger climate-change related risk disclosure with a number of actions in the last year, including a recent consultation on previous climate-related risk […]
In light of a recent consultation, the UK’s Prudential Regulation Authority (PRA) have issued an updated supervisory statement clarifying climate-related disclosure requirements. Responses to the PRA’s consultation paper, Enhancing Banks’ and Insurers’ Approaches to Managing the Financial Risks from Climate Change, encouraged the PRA to move more quickly on climate issues, suggesting that too few firms are […]
Governments, companies, and public entities are under increasing pressure to adopt more climate friendly strategies – and central banks aren’t exempt from this expectation. But solving climate change is remote from the primary mandate of a central bank, and can actively clash with bank requirements, argues Yves Mersch, Member of the Executive Board of the […]
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