Forward Looking Regulatory Practice: Anticipating Management Of Financial Risks From Climate Change

Proshare - Facebook Proshare - Twitter Proshare - Linked In Proshare - WhatsApp

Monday, October 15, 2018   21.54PM / By UK Prudential Regulation Authority


UK Prudential Regulation Authority Consults On Its Expectations For The Management Of Financial Risks From Climate Change.


The Prudential Regulation Authority has published a consultation paper on a draft supervisory statement.


Today the PRA has published a consultation paper on a draft supervisory statement (SS) which sets out expectations regarding firms’ approaches to managing the financial risks from climate change.


These centre on how managing the far-reaching and foreseeable risks from climate change requires a strategic approach which considers how actions today affect future financial risks.


The supervisory statement is relevant to all UK insurers, banks, building societies and PRA-designated investment firms (“firms”).


Climate change and society’s response to it presents financial risks that are relevant to the PRA’s objectives of safety and soundness. Whilst these risks may crystallise in full over longer-time horizons, they are becoming apparent now.


Firms are enhancing their approaches to managing these risks, but more need to take a forward-looking, strategic approach if financial risks are to be minimised.



Proshare Nigeria Pvt. Ltd.



Related News

1.       SEC Mandates All CMOs to Register With Their Respective Trade Associations

2.       Addressing Misconduct In Capital Markets

3.       World Investor Week 2018: Investor Education and Protection Top the Agenda for IOSCO and its Members

4.       CBN Proposes N5bn Capital Requirement For Payment Service Banks

5.       CBN Publishes Guidelines For Licensing and Regulation of Payment Service Banks in Nigeria

6.       FMDQ Wins CAMCAN Award for the Development and Transformation of the Nigerian Debt Capital Market

7.       CBN Publishes Lists of Licensed Finance Companies, PMBs, MFBs and BDCs As At Sept 30, 2018

8.      CBN Releases Exposure Draft-Guidance Notes on Disclosure Requirements

9.       The Nigerian Flare Gas (Prevention of Waste and Pollution) Regulations 2018

10.   IOSCO Launches World Investor Week 2018 to Promote Investor Education and Protection

11.    CBN Releases Revised Guidance Note on Regulatory Capital For All Banks In Nigeria

12.    Forte Oil Denies Involvement With Skye Bank Insider Related Loans

13. CBN to Revoke 154 Microfinance Banks’ Licences, 28 Others
Related News