Businesses gambling on going green
Tackling climate change means businesses have to build in proper risk assessment, says Zsuzsanna Schiff.
In Supervisory Statement (SS3/19) Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change, the PRA outlines its expectations. It intentionally moves away from the CSR lens and concentrates on the financial risks arising from climate change. This is being further emphasised by including these risks in the 2019 insurance stress test.
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