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.
UK regulators propose rules on diversity and inclusion
The UK's financial regulators have issued consultations on improving diversity and inclusion (D&I) in financial industries, an issue that is "important to governance and firm-wide culture" and supporting effective risk management.
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.
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
UK regulator warns financials they face climate risk supervisory escalation
Banks and insurers have been warned by the Prudential Regulation Authority (PRA) they face an escalation in supervisory pressure if they fail to address climate-related financial risk appropriately.
Insurers taking concrete steps in better climate practices, says UK regulator
Sam Woods letter highlights risk management as key area, but work remains to be done
We have an open mind on capital for climate risk, says UK regulator
Sam Woods introduces Bank of England's conference on the topic