As Simon Zadek will discuss later, central banks and regulators are considered key to achieving a financial system that contributes to sustainable development. This potential is unfulfilled, however, in spite of many encouraging efforts by peers from around the world. The Bank of England is one of them.
In a recent address, Governor Mark Carney spoke about the profound and long-term effects of climate change on issues such as property, migration, political stability and food and water security. In spite of the threat this poses to our financial resilience and long-term prosperity, little is done to mitigate it.