The governor of the Bank of England, Mark Carney, has said that a failure by banks and insurers to provide greater information about their exposure to climate risks could cause a “catastrophic impact” on the financial system. His intervention comes as Threadneedle Street ramps up its assessment of how well insurers are identifying, measuring and mitigating weather-related risks this year. In an interview with BBC Radio 4’s
The governor of the Bank of England, Mark Carney, has said that a failure by banks and insurers to provide greater information about their exposure to climate risks could cause a “catastrophic impact” on the financial system. In an interview with BBC Radio 4’s