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Lessons from Network for Greening the Financial System (NGFS)
This video helps recognise how climate change creates financial risks that matter for individual firms. Sarah further outlines what the Bank of England is doing to help banks and insurers manage financial risks from climate change and also discusses the work undertaken by the Bank of England and the NGFS in modelling climate risks.
Overview
Climate change creates risks that impact individual firms, but it can also jeopardise the stability of the financial system as a whole. This is why the Bank of England is helping market participants manage financial risks from climate change, announcing supervisory expectations for banks and insurers to manage these risks, and establishing the Climate Financial Risk Forum, with the aim of building expertise and sharing best practices.
Key learning objectives:
Recognise that climate change creates financial risks that matter for individual firms
Outline what the Bank of England is doing to help banks and insurers manage financial risks from climate change
Discuss the work undertaken by the Bank of England and the NGFS in modelling climate risks
Summary
Expert
Sarah Breeden
Sarah Breeden is the Executive Director for Financial Stability Strategy and Risk at the Bank of England. She is responsible for guarding the wider economy against damage from the financial system. Sarah has worked at the bank for 30 years, most recently as head of International Bank Supervision.
