A second round of guides to help financial firms manage climate-related financial risk has been published by the Climate Financial Risk Forum (CFRF). Written by industry, for industry, the guides focus on risk management, scenario analysis, disclosure, innovation and climate data and metrics. The guides published today build on those published in June 2020 and will help firms respond effectively to climate-related financial risks.
The CFRF has been running since March 2019 and is chaired jointly by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), reflecting the importance of climate change to their respective strategic objectives.