Regulators welcome the Government’s updated Green Finance Strategy

Several UK regulators, including the Financial Conduct Authority (FCA), the Pension Regulator (TPR), the Bank of England (BoE), and the Financial Reporting Council (FRC), have published a joint press statement in view of the government’s publication of its updated Green Finance Strategy. Therein, the regulators commend the government on its revised strategy and state that they will stand ready to support the government in its efforts to transpose this strategy into real (regulatory) outcomes. As climate related risk management is becoming more and more essential to ensure financial stability in the UK – the oversight of which lies with the regulators – the regulators will take on their roles and necessary tasks to support the government in every step of the way.