Just 10 % of UK banks are taking a long - term “ strategic ” approach to climate change , while 80 % are focused simply on the next three to five years , according to a Bank of England ( BoE ) survey . However , the majority of lenders are now treating global warming in the same way as other financial risks , rather than simply in terms of corporate social responsibility . The BoE warned that a “ too little , too late ” response could see “ the most severe financial crisis crystallizing in the banking sector ” . Sep 26 2018, 10:43 PMSep 28 2018, 5:56 AMSeptember 26 2018, 10:43 PMSeptember 28 2018, 5:56 AM The Bank also stated that the window for an orderly low - carbon transition “ is finite and closing ” .
Just 10 % of UK banks are taking a long - term “ strategic ” approach to climate change , while 80 % are focused simply on the next three to five years , according to a Bank of England ( BoE ) survey . However , the majority of lenders are now treating global warming in the same way as other financial risks , rather than simply in terms of corporate social responsibility . The BoE warned that a “ too little , too late ” response could see “ the most severe financial crisis crystallizing in the banking sector ” . The Bank also stated that the window for an orderly low - carbon transition “ is finite and closing ” .