LONDON, Dec 18 (Reuters) - Britain's top banks and insurers
will be tested together for the first time in 2021 to quantify
the financial hit from climate change to their business, the
Bank of England proposed on Wednesday.
But when the results are published in the second quarter of
2021 there will be no pass or fail mark, and no individual firm
will be named, the BoE said in a discussion paper asking for
industry feedback on its plans.
"Climate change will affect the value of virtually every
financial asset," BoE Governor Mark Carney said in a statement.
(Reporting by Huw Jones, editing by David Milliken)