Bank of England to focus on financial resilience to climate change, says policymaker

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FILE PHOTO: Bank of England (BoE) building seen in London

LONDON (Reuters) - The rise in demand for coal following Russia's invasion of Ukraine is a setback to reaching a net-zero economy but will also help bolster investment in renewable energy, a Bank of England policymaker said on Tuesday.

"In light of this situation, the role for central banks and supervisors is to continue to help build resilience to climate-related financial risks, and in doing so they can also help support the transition," Elisabeth Stheeman, member of the BoE's Financial Policy Committee, said in a speech.

(Reporting by Huw Jones; Editing by Alex Richardson)