The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are set to begin cross-financial sector talks in the regulators' first significant step towards removing barriers to companies' attempts at mitigating climate-related financial risks.
In a statement, the regulators said climate change and society's response to it presents financial risks, which "are now becoming apparent" and fall within their mandates. Government ramps up green finance push with new green VCT plans The first meeting of the Climate Financial Risk Forum (CFRF), which took place on Friday (8 March), hosted trade organisations and firms from across the sector including asset managers BlackRock, Hermes, Invesco, Schroders and Standard Life Aberdeen. Also in attendance were JP Morgan and other banks, insurers including Aviva, and other groups such as...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes