The transition to net zero working group will complement other workstreams on the topic including the UK-Government-convened Transition Plan Taskforce (which the FCA attends), and the Glasgow Financial Alliance for Net Zero (GFANZ). The data, disclosure and metrics, and scenario analysis working groups will build on the work of the previous sessions. Membership consists of wider industry participants, including trade associations, to make sure that a broad range of firms is represented. There are three working groups: 1) data, disclosure and metrics, 2) scenario analysis, and 3) the transition to net zero.Įach is chaired by a CFRF member and supported by an external secretariat. UK Centre for Greening Finance and Investment As with Sessions 1 and 2, the CFRF membership includes a diverse representation of financial institutions including UK-regulated banks, insurers, asset managers, asset owners, and public/private organisations. The forum membership for Session 3 refreshed around half of the Forum membership to ensure it still reflects the industry and brings in new viewpoints and relevant expertise. The session will run for approximately 12 months.
make sure that firms can manage the risks arising from climate change and take advantage of opportunities to benefit consumers.The CFRF builds capacity and shares best practice across financial regulators and industry, to advance our sector’s responses to the financial risks from climate change.Ĭlose collaboration between regulators and industry is crucial to: It reports to Sam Woods (CEO of the PRA and Deputy Governor at the Bank of England) and Nikhil Rathi (Chief Executive of the FCA). It is jointly chaired by Sarah Breeden (Executive Director of UK Deposit Takers, PRA) and Sheldon Mills (Director of Strategy and Competition, FCA).
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