PRA sets deadline for UK firms to embed climate risk management

Munich Re has discontinued its membership of the Net-Zero Insurance Alliance (NZIA), a coalition of insurers that have committed to cut their underwriting and investment portfolios to net-zero emissions by 2050.

The UK's green finance strategy has been accused of "failing to address the ... challenge of financing the overall energy transition" by not explaining how the country aims to promote investment to decarbonise its economy.

The Integrity Council for the Voluntary Carbon Market (ICVCM) has arrived too late for carbon markets, an executive at sovereign market proponent CfRN has claimed, on the day it released its core carbon principles.

The UK government will monitor whether it needs to regulate providers of ESG data, the country's Treasury said.

The UK Treasury has called for feedback on a proposed regulatory regime that would see providers of ESG ratings disclose information on their methodologies and describe potential conflicts of interest.