PRA building tools to test financial system’s resilience to climate risks
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PRA building tools to test financial system’s resilience to climate risks

Marcel Le Gouais
14 March 2023
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The UK Prudential Regulation Authority (PRA) has set out plans to build tools that will help assess the financial system’s resilience to climate risks amid wider plans to address “regime gaps” related to climate change.

In an update on its general approach to climate risks, the regulator said it will develop a toolkit to analyse the sector’s resilience, which could be used in scenario exercises and stress tests.

The

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Marcel Le Gouais
Deputy Editor
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