Governor hits back at Nigel Lawson’s description of research into effects of global warming on insurance industry as ‘green claptrap’
Climate change is one of the biggest risks facing the insurance industry, the governor of the Bank of England has said after a former Conservative chancellor dismissed a study on global warming as “green claptrap”.
Speaking at the House of Lords, Mark Carney mounted a robust defence of the Bank’s work on the impact of climate change on the insurance industry in the face of claims by Nigel Lawson that it had its priorities wrong.