BOE Regulator Will ‘Come Down Pretty Hard’ on Firms Shirking Climate Risks

The transcript discusses the role of finance in addressing climate change, emphasizing the need for clear government policies to guide financial regulation. It highlights the challenges of modeling climate risks in financial firms and the importance of finance as an enabler in the transition to a net-zero economy by 2050. The conversation also explores the effectiveness of green finance policies and the role of regulators in ensuring financial stability while managing climate risks. Ultimately, the financial system's role in bearing climate change costs is examined, stressing the need for a strong system to support the transition.

In what ways can financial institutions support the transition to greener industries?

Who ultimately bears the costs associated with climate change, according to the discussion?

What is the significance of clarity from governments regarding climate policies for the financial sector?