‘Momentum building’ behind financial response to climate change
FSB welcomes progress on disclosures; BoE report finds many UK banks are facing up to the risks
A new progress report shows “momentum building” behind climate risk disclosures, the Financial Stability Board says, as banks start to face up to the scale of potential problems.
A majority of the 1,700 firms participating in the Task Force on Climate-related Financial Disclosures (TCFD) now make disclosures on their climate change risks, in line with the group’s guidelines, putting the financial system a step closer to being able to properly price risks from climate change.
However, hurdles
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