Last October, the FCA issued a discussion paper addressing climate change and its role in financial markets as countries transition towards low carbon economies. The opening paragraph of the paper was stark and perhaps illustrates how seriously regulators and governments are viewing this global threat.
Climate change presents a potentially irreversible threat to the planet. This has been widely recognised by the 181 parties that have signed the 2015 Paris Climate Change Agreement. Climate change is likely to have a significant impact on the UK’s economy and financial services markets.