UK banks, insurers told by regulator to improve climate accounting processes
UK banks and insurers have been urged by their regulator to "establish clear plans and timeframes for developing climate accounting capabilities", as it reminded them of expectations to measure and manage climate risks.
Bank of England should model financial impact of acute physical risks, regulator says
The Bank of England should test the impact on the country's financial system of a "very large climate event", the head of the Bank's Prudential Regulation Authority (PRA) has said.
BoE prepares transition plan based on TPT recommendations
The Bank of England is to publish next week a climate transition plan it says is based on the draft recommendations by the UK's Transition Planning Taskforce (TPT).
Take action 'ahead of regulation', urges Bank of England
The Bank of England has urged financial institutions to take action on sustainability and not wait for policy and regulation to be developed.
Bank of England to explore whether climate capital requirements needed
The Bank of England said it will "explore whether changes to the macroprudential framework might be appropriate" to help protect against climate risks,...
NGFS interested in UK transition plan framework, says BoE's Breeden
There is international interest in the UK's plans to develop a world-leading "gold standard" for climate transition plans, including from members of the Central Banks and Supervisors Network for Greening the Financial System (NGFS), a senior central banker has said.
Regulators consider capital for climate risk
Insurance regulators are keen to ensure their prudential frameworks properly incorporate climate risk. But whether this should be reflected in capital requirements is proving a difficult question to answer, as Christopher Cundy reports
COP27: Regulators march on ... and on
Are regulators suffering mission creep at COP27, asks Peter Cripps