Westminster Business Forum

Green finance and the impact of climate change on financial services - managing risk, opportunities for growth and the Green Finance Strategy

September 2019


The seminar examined options for growing the green finance sector in the UK and addressing the impact of climate change on financial services.


The conference was an opportunity for stakeholders and policymakers to discuss the Green Finance Strategy.


Sessions discussed how firms can adequately protect themselves to mitigate liability, physical and transition risks associated with climate change - and the way policy and regulation will need to further develop.


Delegates assessed the effectiveness of the proposals set out in the Green Finance Strategy in ‘greening’ the financial system and meeting climate targets, creating investment pipelines to ensure that the transition to green finance is profitable for businesses and considered next steps for government and industry in supporting growth and competition in green and sustainable finance.


They looked at avenues for innovation, trends in investment and product development and latest thinking on how firms can adopt green principles as part of their culture.


The seminar was timed as the Bank of England prepares its assessment of how it manages climate-related financial risk and as the Treasury Select Committee launched an inquiry into the decarbonisation of the UK economy and Green Finance.


Sessions also discussed the growing trend towards disclosure of climate-related exposure and the financial risks they pose to companies, whether disclosures should become mandatory, the risks and opportunities they pose for businesses, following the new expectation for businesses to do so by 2022 as part of the Green Finance Strategy.


The conference followed the PRA’s policy statement on its consultation on improving the way banks and insurers approach the management of the financial risks of climate change, as firms finalised their initial plans to implement the new proposals.


It also came as the FCA considered responses to its consultation on how regulators can ensure the protection of consumers and the financial services sector - such as the introduction of rules to place extra responsibilities on pensions trustees to consider the risks arising from climate change.


Further discussion reflected concerns around the potential ‘greenwashing’ of some investment products, and delegates will consider what further measures could be taken to improve the transparency of firms’ environmental impact to protect consumers and investors.



Price: £95 PLUS VAT
Format: DOWNLOADABLE PDF


Shortly after every Westminster Business Forum seminar, a briefing document is produced. This is distributed to all delegates on the day as well as to our policymaker contacts in government, and to stakeholders more widely.

A seminar publication provides a timely record of proceedings, and acts as a guide to the latest thinking on current policy issues for those unable to be at the event.

This publication includes

Presentations

Contributions from keynotes and panellists, including accompanying slides*
*Subject to approval


Delegate Pack

Information from the day, including delegate list, biographies and agenda

Q&A

Transcript of questions and comments posed to speakers from attending delegates


Articles

Supplementary articles from speakers
and delegates