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  • Transition in thinking: The impact of climate change on the UK banking sector
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Transition in thinking: The impact of climate change on the UK banking sector

Source(s):  Bank of England

This report examines the financial risks from climate change that impact UK banks, building societies and Bank of England Prudential Regulation Authority-designated investment firms. It assesses how banks are responding to these, and clarifies the PRA’s supervisory approach.

Financial risks from climate change arise from two primary channels or ‘risk factors’: physical and transition. Physical risks can arise from climate and weather-related events, such as heatwaves, droughts, floods, storms and sea level rise. They can potentially result in large financial losses, impairing asset values and the creditworthiness of borrowers.



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  • Transition in thinking: The impact of climate change on the UK banking sector
  • Publication date 2018
  • Number of pages 53 p.

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