BoE says more work needed to assess climate capital rules

Campaigners disappointed by lack of action on building resilience to climate change

Bank of England
Photo: Juno Snowdon Photography

The Bank of England concludes in a new report on climate change that more work is needed before it can decide on whether changes to the capital regime are necessary.

The study builds on previous work by the BoE into climate change, dividing the remaining challenges into “capability gaps” and “regime gaps”. Shortfalls in capability relate to firms’ and supervisors’ ability to model the impact of climate change and set resilience accordingly. Shortfalls in the regime refer to elements of the

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