Bank of England launches climate stress test for banks and insurers

LONDON, June 8 (Reuters) - The Bank of England on Tuesday
set out its first stress test to check the financial system's
ability to cope with climate change, saying the results will not
be used to determine capital requirements.

The test will scrutinise the resilience of Britain's biggest
banks and insurers to stresses from shifting to a net
zero-carbon economy over coming decades.

"The end result will be more robust management of climate
related financial risks across the sector," BoE Governor Andrew
Bailey said in a statement.

(Reporting by Huw Jones
Editing by William Schomberg)