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<p>The Monetary Policy Committee (MPC) of the Bank of England has the primary objective,
set out in law, of maintaining price stability. As a broad macroeconomic objective,
this applies to the economy as a whole and not to specific sectors.</p><p> </p><p>In
the Green Finance Strategy, the Government announced that it will ensure that the
need for the Prudential Regulation Authority (PRA), the Financial Policy Committee
(FPC) and the Financial Conduct Authority (FCA) have regard to the COP21 Paris Agreement
when considering how to advance their objectives and discharge their functions.</p><p>
</p><p> </p><p>As such, the remit and recommendations for the Financial Policy Committee
– published in March 2020 – now sets out the responsibilities of the FPC regarding
climate change in relation to the achievement of its statutory objectives. Similarly,
the government remains committed to including these considerations in the next remit
letters for the FCA and PRA that will be issued at an appropriate opportunity under
this Parliament.</p>
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