September 23, 2019 / 5:44 PM / a month ago

BOE's Carney urges financial sector to transform management of climate risk

UNITED NATIONS, Sept 23 (Reuters) - Bank of England Governor Mark Carney said on Monday that the financial sector must transform its management of climate risk, warning that global warming would prompt reassessments of the value of every single financial asset.

“Climate disclosure must become comprehensive, climate risk management must be transformed, and sustainable investing must go mainstream,” Carney told a United Nations climate summit. (Reporting by Matthew Green; editing by Grant McCool)

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