Seventh meeting of the PRA and FCA’s joint Climate Financial Risk Forum

The FCA and PRA hosted the seventh meeting of the CFRF in July 2021.

Since the last Forum in March, the working group chairs, members and secretariat have been progressing their respective topics of risk management, scenario analysis, disclosure and innovation, while also further developing the cross-cutting workstream on climate data and metrics. The Forum discussed the progress made by each working group to date, including outputs for Session 2 (July 2020 – December 2021), with a launch event being planned at or around the 2021 United Nations Climate Change Conference (COP26).

Members discussed the challenges facing the financial services industry and particular sectors in relation to climate-related financial risks. The discussion also focussed on potential future areas of focus for the CFRF. 

The next meeting will take place in October 2021, where working group outputs will be signed off prior to publication at an online launch event which will coincide with COP26.

 

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