Question

To ask the Secretary of State for Energy and Climate Change, what discussions she has had with the Bank of England regarding risks to financial stability that arise as a consequence of climate change.

The Secretary of State for Energy and Climate Change met the Governor of the Bank of England on 18 September 2015. They discussed: the Bank of England’s work on financial stability and climate change with regard to its report ‘The impact of climate change on the UK insurance sector’ commissioned by the Department of Food and Rural Affairs; and the Financial Stability Board’s work on disclosure of climate risk.