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1. Bank of England Tells Banks to Speed Up Plans for Climate ChangeRisks Read the following excerpt from a Reuters.com article and then answer a
1. Bank of England Tells Banks to Speed Up Plans for Climate ChangeRisks Read the following excerpt from a Reuters.com article and then answer a recall question. "BANK OF ENGLAND TELLS BANKS TO SPEED UP PLANS FOR CLIMATE CHANGE RISKS" BY HUW JONES AND WILLIAM SCHOMBERG, SEPTEMBER 26, 2018 Smy Only a small fraction of banks in Britain are planning properly to mitigate risks to their businesses from climate change, the Bank of England on Wednesday, adding it would push lenders to take action. The British central bank, which oversees the City of London global financial hub, said it would consult with banks to show what it expected the be doing and said bank directors had to engage on climate change and the shift to a low-carbon economy. ... "For banks, the financial risks from climate change have tended to be beyond their planning horizons," [Governor Mark] Carney said. The BoE said just one in 10 of banks in a survey it conducted covering 90 percent of the sector were managing climate change risks with long ter
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