The BoE should strengthen its approach to nature-related financial risks and follow the ECB in embedding nature loss into financial supervision.
UK banks and insurers need to do more to manage climate risk to increase financial resilience, Prudential Regulatory Authority says.
UK regulators noted that while financial firms have made progress, they still need to develop their climate risk management tools. …
UK prudential regulator encourages banks and insurers to establish clear plans and timeframes for developing climate accounting capabilities. …
Proposals to elevate competitiveness ahead of climate change as new objectives for UK financial regulators have been widely criticised by civil society groups.
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