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Climate Risk Consortium for small- and mid-sized banks
Katalysys had convened a consortium of non-systemic banks to jointly develop a credible, practical, and proportionate framework for climate-related financial risk assessment.
The work program is designed to fully address the immediate requirements of SS 5/25 - namely a comprehensive gap analysis, board education, and a credible & ambitious remediation plan.
SS 5/25: Approaches to managing climate related risks
The Prudential Regulation Authority (PRA) has published its final Policy Statement PS25/25 and SS 5/25 on climate-related financial risks on 3 December 2025.
We have broken down the Supervisory Statement into a set of 41 expectations that non-systemic banks will need to proportionately consider.
Evolving Climate Risk Expectations for UK Banks (SS5/25 via PS25/25)
On 3 December 2025, the PRA published its final Policy Statement PS25/25 on climate-related financial risks. The final expectations now sit in Supervisory Statement SS5/25 ‘Enhancing banks’ and insurers’ approaches to managing climate-related risks’, which immediately replaces the old SS3/19. The changes enhance requirements in areas such as governance, risk management, scenario analysis, data, and disclosure.