New PRA report: The Impact of climate change on the UK banking sector

The Bank of England has taken a leadership position on climate change for a number of years.

Governor Mark Carney’s ‘Tragedy of the horizons’ speech in 2015 set the scene for how the Bank viewed the issue of climate risk.

Their subsequent work on the FSB TCFD framework has put climate change on the agenda for many companies… and looks set to be increasingly important.

In September 2018 the regulatory arm of the Bank, the PRA, published a new paper  Transition in thinking: The impact of climate change on the UK banking sector.

Further information about the Bank’s climate-related work can be found in the Quarterly Bulletin article on the Bank’s response to climate change, or on the Bank’s climate change page