BoE defends work on climate risk despite allegations of neglect

'We work to take action accordingly'

The Bank of England said it is working to tackle climate risks that threaten its objectives following reports by the FT that the central bank has been undermining climate and nature issues.

A Bank of England spokesperson told Investment Week that "while the government is responsible for climate policy, climate risk threatening our objectives is part of the bank's remits, and we work to take action accordingly". UK government and financial heavyweights launch global taskforce on economic growth and climate change Their comments came after six former senior BoE employees told the FT that the central bank neglected climate and nature risk supervision issues, contributing to the financial sector's unpreparedness in the field. According to the FT, climate change had been d...