Risk Management

UK financial firms face huge climate-related losses

By Justin Pugsley
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On May 24, the Bank of England (BoE) released its 2021 Climate Biennial Exploratory Scenario (CBES) on the financial risks from climate change. It showed that UK banks and insurers could see between 10% and 15% wiped off their annual profits. Under a worse-case scenario, banks could experience up to ...

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