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ABI comment on PRA climate change consultation

Responding to today’s announcement from the Prudential Regulation Authority (PRA) that it will consult on how financial firms manage risks from climate change, Steven Findlay, Head of Prudential Regulation at the Association of British Insurers (ABI), said:

“Insurers are often on the front-line dealing with the results of rising temperatures and extreme weather so have a real stake in addressing climate change, and are well aware they have a role to play in this. As a result, the ABI and our members are already involved in several industry-led initiatives such as ClimateWise and the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures.  But there is still more that can be done.  We’re keen to contribute to the PRA’s consultation on this topic, and to get involved in the new Climate Financial Risk Forum they have also announced today.”

Last updated 15/10/2018