What do regulators need from governments on climate change?
To reduce the number of climate risk scenarios, lawmakers need to start being more specific
“You want a paper? On climate change?” I stammered into the phone. The caller was the private secretary to the governor of the Bank of England. I oversaw the bank’s analysis of risks to financial markets. But I had never thought about risks from the climate.
It was 2014, and Mark Carney had recently been appointed governor. The sense of change in Threadneedle Street was palpable. So too was the nervousness it bred. “Steer well clear,” advised an old colleague. “This climate business is…well
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