Gov't Tells Finance Watchdogs To Grade For Climate Change

Law360, London (March 25, 2021, 12:31 PM GMT) -- The government has told Britain's finance watchdogs to consider in their supervision of banks and insurers whether they are contributing to climate change, a move toward helping the economy move toward net-zero carbon emissions.

Chancellor of the Exchequer Rishi Sunak called on the Financial Conduct Authority and the Prudential Regulation Authority on Wednesday to ensure they include climate change in the remit of their work. He said he wants the regulators to make decisions that are compatible with the government's environmentally friendly economic policy.

"The government wishes to deliver a financial system which supports and enables a net-zero economy by mobilizing...

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