BoE to demand senior financiers tackle climate risks
Proposals from PRA would hold senior managers accountable for climate change risks
The Bank of England has toughened its stance on risks stemming from climate change, demanding senior bankers and insurers tackle the risks before they grow more severe.
A draft supervisory statement published today (October 15) by the Prudential Regulation Authority adds preparations for climate change to the list of duties top financiers can be held accountable for under the UK’s Senior Managers Regime.
“There should be clear board-level engagement and responsibility for managing the
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