Financial Services: Climate Change

Treasury written question – answered on 19th November 2018.

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Photo of Catherine West Catherine West Labour, Hornsey and Wood Green

To ask the Chancellor of the Exchequer, what discussions he has had with the Governor of the Bank of England on the effect of climate change on the Bank’s ability to preserve macroeconomic stability.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

Treasury Ministers have meetings with a variety of public and private organisations, including the Bank of England, as part of the process of policy development.

Details of ministerial meetings with external organisations are published quarterly at: https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel

Green Finance is an important area of collaboration with the Bank of England, and we welcome the Bank’s recent announcement to set out, for consultation, supervisory expectations for banks and insurers to consider climate risks in their approach.

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