Bank of England hoax claims fossil fuel exclusion from asset purchase fund
A hoax Bank of England (BoE) press release falsely announced the central bank will exclude firms that are most exposed to climate risk from its £20 billion ($27 billion) corporate bond purchase programme.
UK endorses IFRS proposals to develop global sustainability standards
The UK government has endorsed the publication of the International Financial Reporting Standards (IFRS) consultation on a global approach to sustainability reporting, and the potential establishment of a Sustainability Standards Board.
BofE announces climate stress tests launch in June after Covid-19 delay
The Bank of England (BofE) has announced that its postponed climate stress tests will now launch in June, after the central bank used the delay due to the Covid-19 pandemic to work on the design of the exercise.
Bank of England 'encouraged' by green bond greeniums
A senior Bank of England (BofE) official said the 'greeniums' reported on the recent green bond issues were an "encouraging sign" that climate-positive investment was being favoured by the market, and serves as a fillip to further sovereign green bonds - including in the UK.
Only a matter of time' before TCFD becomes mandatory in UK, says BofE
Bank of England (BofE) markets executive director Andrew Hauser said you can "reasonably expect" adoption of recommendations outlined by the Task Force on Climate-related Financial Disclosures (TCFD) to become mandatory in the UK.
Bank of England warns of hit to sovereign debt from climate change
The Bank of England has warned of the potential for climate risk to hit sovereign debt "in extreme circumstances", but it steered away from naming the countries most at risk. Anna Sweeney, executive director of the insurance supervision division at the UK's central bank, said when global warming threatened physical damage to tangible property held by insurers, this could also ricochet into the real world and so hurt insurers' investments further.
CFTC: Climate change poses 'major risk' to US financial system
A report from a subcommittee of US federal regulator the Commodity Futures Trading Commission (CFTC), has found that all US financial regulators must recognise that climate change poses 'serious emerging risks' to the national financial system.
More energy efficient properties 'cut risk of mortgage default'
The risk of default for mortgages on the most energy efficient properties is lower than less efficient properties, according to a report by the Energy Efficiency Data Protocol and Portal (EeDaPP).
Bank of England publishes first climate disclosure
The Bank of England (BoE) has published its first climate-related financial disclosure, identifying both transition risk and physical risks on its balance sheet.