PRA breaks new ground on climate risk supervision

BoE says it is the first regulator worldwide to set expectations for firms in tackling climate risks

lanzatech-pollution-carbon-emissions-cleantech

The Bank of England says it has become the first regulator worldwide to set supervisory expectations for financial firms in dealing with climate change.

As well as setting out a series of actions banks and insurers should take to mitigate climate change risks, the supervisory statement includes a requirement for firms to nominate a senior official, or several, to be held accountable for the governance of climate change risks.

The Prudential Regulation Authority says it “expects a firm’s board

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.