Firms and supervisors must ‘transform’ climate risk management – regulators

Climate change has demanded a major rethink of the way firms, regulators and financial supervisors consider risk, speakers at the first day of the ‘Green Swan’ conference said today (June 2).

The challenge in understanding climate risks was “absolutely enormous”, said Sarah Breeden, executive director at the Bank of England (BoE). In remarks at the green finance conference – hosted by the Bank for International Settlements – she said the decades-long timescales, the complexity of risks and the