FCA publishes Climate Change Adaptation Report

Written by Zhuan Faraj

On 28 October 2021, the FCA published a Climate Change Adaptation Report, setting out the actions it and the financial services industry has taken to adapt to the challenges of climate change.

The report outlines:

• The FCA’s climate change and environmental, social and governance (ESG) strategy and how it is evolving
• A timeline of the FCA’s major ESG publications between now and next summer
• The climate-related risks that financial services firms are exposed to, including insurance underwriting risk, credit risk, financial market risk and operational risk
• How firms are addressing and adapting to these climate-related risks and opportunities
• How firms and listed companies are planning to transition to net zero
• The role of capital mobilisation in financing both climate change adaptation and climate change mitigation

The report can be read in full here. Further details about Burges Salmon’s Sustainable Finance practice can be found here