The BoE should strengthen its approach to nature-related financial risks and follow the ECB in embedding nature loss into financial supervision.
As the UK experiences its driest summer in recent memory, the need to invest in adaptation measures is omnipresent but predicting its impact on the public purse is harder to decipher.
Financial firms need to do more to price and manage climate risks, BoE says
The central bank will apply haircuts to bonds from companies exposed to the net zero transition
In this week’s roundup: Brazil scraps its mandatory sustainability reporting rules, the war in Iran shows how dependent Europe is on US and Russian LNG, an IMF audit finds gaps in its climate work and more
Bank of England tightens climate expectations, EU launches carbon border tax, Hong Kong considers nature taxonomy, and BIS flags risk of water scarcity.
Also in this week’s roundup, the BoE faces criticism for climate inaction and UN releases strategy for BRICS to lead on climate finance alternatives.
Scope of Bank of England’s annual disclosure report increases although climate advocates say it should go further.
Ex-employees claim Bank of England is neglecting climate risk, leaving financial sector unprepared in the face of increased extreme weather.
Central bankers should consider climate change and green policies just like any other economic shock, says James Talbot of the Bank of England.
Canada faces growing climate risk according to insurance body, while the OCC has ended its climate risk guidance in this week’s roundup.
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