UK banks and insurers to be tested on climate crisis response plans

Bank of England to force firms to say how they would respond to temperature rise of up to 4C

UK banks and insurers will be forced to reveal how exposed they are to the climate crisis and how they would respond to the effects of a temperature rise of up to 4C under the Bank of England's first climate stress tests.

The Bank has put forward proposals to test the performance and health of the UK financial system for a range of climate-linked financial risks, including the failure of governments and consumers to take action.