PRA instructs insurers, banks on progress needed on climate risk
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PRA instructs insurers, banks on progress needed on climate risk

bank PRA green energy.jpg

The Prudential Regulation Authority (PRA) has told insurers and banks “further progress is needed by all firms” in embedding climate risk management, and repeated its observation around the lack of robust data to support the process.

In a "Dear CEO" letter to banks and insurers, PRA CEO Sam Woods set out the regulator’s overall thinking on how firms performed against a climate risk stress test conducted earlier this year.

While

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