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UK banks, insurers have ‘long way to go’ to solidify climate risk-management, BOE policymaker says

By Fiona Maxwell ( July 11, 2022, 12:38 GMT | Insight) -- UK banks and insurers have a "long way to go" to overcome the problems that emerged in the Bank of England's inaugural climate-change stress test, an external member of the BOE’s Financial Policy Committee said today. "All the major firms have more work that needs to get done," Anil Kashyap said in a speech.UK financial services institutions “have a big risk-management problem” over climate change, which could pose a threat to financial stability, a senior Bank of England executive said today....

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