Chartered Banker Institute responds to FCA Discussion Paper on Climate Change and Green Finance

  • 31 January 2019
  • News | Press release | Professionalism and Ethics | Green Finance

Today, the Chartered Banker Institute has published its response to the FCA’s recent Discussion Paper on Climate Change and Green Finance.

We support the timely focus by both the FCA, and the PRA, in its recent draft Supervisory Statement on Climate Risks, on this important issue. Taken together, the regulators’ intervention should help to ensure greater strategic thinking by firms with regard to the issues and impact of climate change risks and the transition to a low-carbon economy.

In our response, we support the view that there is currently no need for the UK’s regulators to intervene. Instead, they have an important role to play in highlighting and encouraging engagement with existing initiatives, most notably the Task Force for Climate-Related Financial Disclosure’s (TCFD) recommendations for climate risk reporting, which is already emerging as the global, voluntary standard in this area.

We propose that where the TCFD framework and recommendations are at too high-level and lack specific detail, the FCA is well placed to suggest where further guidance may be found or propose its development. 

Matthew Ball

Matthew Ball

Head of Public Affairs, Policy & Communications

 

Matthew is responsible for leading the implementation of the Institute’s strategic and operational plans for public affairs, communications and thought-leadership.

Matthew has over 20 years’ experience working as a senior Parliamentary/Political Affairs Professional with a wealth of skills across all areas of public affairs, joining the Institute in 2015 to help raise its profile with key stakeholders. Matthew has worked for MPs, co-founded a public affairs agency and run think-tanks providing him with considerable knowledge of the operations of regulators and government. He is also an expert in the UK Parliamentary Process.

Matthew was Administrative Secretary to the All-Party Parliamentary Group for Building Societies and Financial Mutuals between 2003 and 2013 and immediately prior to working for the Institute, was Chief Executive of the financial services think-tank, New City Agenda.

Contact details
Email: matthew.ball@charteredbanker.com  Tel: 07720 684226