Bank of England warns of crackdown on financing linked to climate risk
by Kalyeena Makortoff Banking correspondent from Economics | The Guardian on (#5R8EF)
Tougher regulation means banks and insurers face extra audits and capital rules for unsustainable assets
The Bank of England has told banks and insurers it is prepared to use its powers to crack down on them if they fail to manage climate risks.
The warning came as the central bank begins to review a potential introduction of capital requirements linked to unsustainable assets.
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