Today Sarah Breeden sets out how the financial risks from climate change are far-reaching, foreseeable and for action today. She notes that to avoid the impending storm, the financial system needs to plot a new course to safer waters. And she sets out how the Bank of England is supporting that, including through the PRA’s publication today of its supervisory expectations for managing these risks. The PRA is the first regulator in the world to publish such expectations.
Avoiding the storm: Climate change and the financial system
Sarah Breeden
Executive Director, International Banks Supervision
