Tackling the climate crisis

Climate Financial Risk Forum (CFRF)

Nigel Wilson, Group CEO chairs the Innovation Working Group of the Prudential Regulation Authority and Financial Conduct Authority’s Climate Financial Risk Forum. Their 2021 report aims to promote understanding of the opportunities and gaps for scaling the mobilisation of financial capital into the real economy to help steward the economy to net zero, through a series of case studies.

21 Oct 2021

There is a shared responsibility across financial institutions and regulators to help steward the real economy to net zero. The Innovation Working Group of the Climate Financial Risk Forum seeks to highlight actionable innovation opportunities to mobilise financial capital and steward an economy-wide transition to meet climate targets. These videos illustrate practical pilots and emerging and active innovation activities across the sector. To read the full reports go to the Climate Financial Risk Forum website.

In seeking to progress understanding, the Innovation Working Group of the Climate Financial Risk Forum is mindful that innovation is happening at pace, through the activities of multiple firms, public agencies and non-profits, nationally and internationally. The case studies provided are not exhaustive, instead they seek to illustrate examples of leading-edge activities which are emblematic of innovation on levers of change in the financial system which could be scaled and replicated by others.


Nigel Wilson, Group CEO, Legal & General, launches the Climate Financial Risk Forum Innovation Working Group report 2021.

Actions to expand financing into the real economy

Local climate bonds

Bruce Davis, Managing Director, Abundance Investment, shares insight on the developing UK green bond markets.

Net zero neighbourhoods funding model

Ed Cox, WMCA Director of Inclusive Growth, explains how local authorities and cities can contribute to net zero.

A new asset allocation model

Kaisie Rayner, Climate Change Lead, Royal London, highlights the role institutional investors play in the net zero transition.

Actions to finance transition assets: delivering structural changes in sectors

The Coalition for the Energy Efficiency of Buildings

Emma Harvey, Programme Director, Green Finance Institute, explains why retrofitting building stock plays a key role to reach net zero.

The Poseidon Principles

James Bardrick, Citi’s Country Officer for the UK, explains how his team are working to decarbonize shipping.

Actions to improve use of data and metrics

Securing commercial data sharing

Gavin Starks, CEO IcebreakerOne.org, highlights the role of data sharing to help steward the economy to net zero.