The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are set to begin cross-financial sector talks in the regulators' first significant step towards removing barriers to companies' attempts at mitigating climate-related financial risks.
In a statement, the regulators said climate change and society's response to it presents financial risks, which "are now becoming apparent" and fall within their mandates. The first meeting of the Climate Financial Risk Forum (CFRF), which took place on Friday (8 March), hosted trade organisations and firms from across the sector including asset managers BlackRock, Hermes, Invesco, Schroders and Standard Life Aberdeen. Also in attendance were JP Morgan and other banks, insurers including Aviva, and other groups such as the London Stock Exchange Group. FCA moves to force firms to di...
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