The financial sector is beginning to adapt to the risks posed by climate change but firms need to do much more, Mark Carney said on November 21.
In remarks to a conference in London, the Bank of England governor noted insurance losses from extreme weather hit a record $140 billion in 2017, and may surpass that figure this year. Carney said this was an “extension of a worrying pattern” of worsening weather, and the outlook is “even more concerning”.
Carney said BoE research indicated the
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