Insurance and banking

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Bank of England: Supervisory Statement 3/19

Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change

Read the statement

The Bank of England Climate change page is a gateway to a number of (often PRA) regulatory resources including the 2015 insurance report and:

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EIOPA has issued views on the integration of sustainability, in particular climate-related developments, into the Solvency II framework for the valuation of assets and liabilities, investment and underwriting practices, the calibration of market and natural catastrophe risks and the use of internal models.

Some of the NGFS publications address climate risk in bank business models from a regulatory perspective.

The Partnership for Climate Accounting Financials (PCAF) seeks to develop harmonised and transparent carbon accounting. This requires measuring and disclosing the GHG emissions associated with the lending and investment activities of financial institutions, creating transparency and accountability.