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If UK banks don't meet climate-risk expectations, could binding rules follow?

By Sofia Gerace ( April 30, 2025, 16:03 GMT | Comment) -- UK banks and insurers received updated climate-risk guidance from the Bank of England's supervisory arm today, just as the UK government itself was being dressed down for being unprepared to face climate change. The Prudential Regulation Authority stopped well short of imposing binding rules on financial firms, however, meaning calls to go further are set to continue. New guidance for UK banks and insurers on expectations that the central bank has for them to better prepare for climate-related risks came amid a backdrop of criticism of the government's own mitigation efforts....

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