In a landmark speech at Lloyd’s in 2015, Mark Carney warned of the systemic risk that climate change could pose for the financial services industry. He described three categories of climate risk: physical, transition, and liability.

In this presentation, Nigel, Laura and Neil will explore all three categories and, in particular, the various ways in which liability can arise. They will look at some of the cases already making their way through the courts and also outline the regulatory position, including the PRA’s recent Supervisory Statement.