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ARTICLE · 09 OCTOBER 2018

Prudential Regulator Reports On Climate-Related Financial Risks For The UK Banking Sector

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On September 26, 2018, the U.K. Prudential Regulation Authority published a report entitled "Transition in thinking: The impact of climate change on the U.K. banking sector."

United KingdomFinance and Banking
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On September 26, 2018, the U.K. Prudential Regulation Authority published a report entitled "Transition in thinking: The impact of climate change on the U.K. banking sector." The purpose of the report is to: (i) examine the financial risks from climate change that impact PRA regulated banks, building societies and designated investment firms; (ii) assess how those entities are responding to and managing the financial risks from climate change; and (iii) assist those entities in understanding the PRA's supervisory approach to the financial risks from climate change. The report will also be used to inform the Bank of England's wider work to assess the system-wide financial risks from climate change.

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