U.K. Banks Asked to Tell BOE About Risks From Climate Change
- Data gathering won’t be a pass or fail capital test for firms
- Bank of England publishes discussion paper in London
A part submerged car during flooding in the U.K. in October. Companies are being asked how much their mortgage loans could be affected by rising sea levels or flooding.
Photographer: Christopher Furlong/Getty Images EuropeThis article is for subscribers only.
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The Bank of England is inviting banks and insurers to assess their exposures to global warming and the risks associated with any transition to a lower-carbon economy.