Understanding the UK PRA's newest climate risk management expectations

Your guide to the new CP 10/25 and its updates to SS 3/19 and what that means for banks, insurers, and beyond

What PRA’s New CP10/25 Means for Financial Firms

The Prudential Regulation Authority (PRA) has published Consultation Paper 10/25 (CP10/25), marking a fundamental update to how it expects banks and insurers to identify, manage, and govern climate-related risks. The document, which will replace the PRA’s 2019 supervisory statement (SS3/19), is open for co…