The Bank will respond in full to the Environmental Audit Committee letter in due course.
Climate change is a strategic priority for the Bank. We have an ambitious work programme on climate change, from the stress testing of the largest UK banks and insurers against climate-related financial risks through to working internationally with the central bank network for greening the financial system – a network of which we were a founding member.
As the Governor told the Treasury Select Committee in November, work to consider how best to take account of climate considerations in our corporate bond portfolio is already underway at the Bank.
The CCFF scheme closed to new applications on 31 December, and will close to new borrowing in March - with all borrowings due for repayment by March 2022.
