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Commenting on the Bank of England's discussion paper on stress testing the financial stability implications of climate change, Chief Executive of UK Finance Stephen Jones said:
?The banking and finance industry has a key role to play in supporting a sustainable future as firms embed climate risk and green finance into the heart of their business models. ?The publication of today's discussion paper is an important step towards testing the resilience of the financial system to climate risk. ?Scenario analysis is an integral part of the regime for assessing potential exposure to climate-related risks and it is good to see the Bank of England engaging in an early dialogue on the approach to be adopted in the 2021 Biennial Exploratory Scenario exercise.?
?The banking and finance industry has a key role to play in supporting a sustainable future as firms embed climate risk and green finance into the heart of their business models.
?The publication of today's discussion paper is an important step towards testing the resilience of the financial system to climate risk.
?Scenario analysis is an integral part of the regime for assessing potential exposure to climate-related risks and it is good to see the Bank of England engaging in an early dialogue on the approach to be adopted in the 2021 Biennial Exploratory Scenario exercise.?
For more information please call the UK Finance press office on 020 7416 6750 or email press@ukfinance.org.uk
<p>UK Finance is the collective voice for the banking and finance industry. Representing more than 250 firms across the industry, we act to enhance competitiveness, support customers and facilitate innovation.</p> <p> Today's Bank of England Discussion Paper can be found <strong><a href="https://eur01.safelinks.protection.outlook.com/?url=https%3A%2F%2F74n5c…;
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