Science-based targets could help banks wrestling with climate risk

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By Jon Hay
22 Oct 2020

UK banks and building societies are struggling with difficult aspects of incorporating climate change into their risk management, as demanded by the regulator, a PwC survey has found. The answer to some of their problems could be a non-risk initiative: science-based targets.

In the past five years, central banks and regulators have belatedly realised the threat climate change poses to financial stability and the health of banks, and begun pushing them to take it into account systematically.

This is a step into the unknown for banks, as they have to ...

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