On 14 August 2020, the Bank of England (BoE) published a new web page concerning the fourth meeting of the PRA and FCA joint Climate Financial Risk Forum.
The new web page mentions that at its fourth meeting the Forum discussed its strategy for the second year of work. The Forum agreed that the four existing working groups would continue with the current chairs and secretariats. These working groups address the topics of: risk management, scenario analysis, disclosure and innovation. Once the work plans are agreed between the regulators and the working group chairs, the working group membership will be refreshed to ensure there is an appropriate variety of skills and experiences around the table; this is likely to include a mix of existing and new members.
The next CFRF meeting will take place in Q4 2020 where the work plans and approaches will be agreed and possible next steps to support COP26 – the international climate summit being hosted by the UK in November 2021 – will be discussed.