The Climate Financial Risk Forum (CFRF), chaired by the Bank of England and the FCA has today published a guide developed in conjunction with industry, to help financial services firms tackle the risks from climate change.
Commenting on the publication of the guide, Steven Findlay, Head of Prudential Regulation, said;
With facilitation and leadership from both regulators, this guide has been developed for industry by experts across industry including from insurance.
It will help firms to better understand, manage and disclose the financial risks and opportunities associated with climate change which, if not addressed, would have severe consequences for the business model of insurance and so many parts of our economy and society.”
You can learn more about the work of the insurance and long-term savings sector to tackle the climate challenge here.