Climate Financial Risk Forum


The Climate Financial Risk Forum (CFRF), co-chaired by the Financial Conduct Authority (FCA) and the Bank of England builds capacity and shares best practice across financial regulators and industry, to advance our sector’s responses to the financial risks from climate change. 

On the 21 October we published the outputs from the forum's four working groups on disclosures, scenario analysis, risk management and innovation, and hosted a webinar where we discussed these outputs in detail, offering examples of best practice and insight into how industry leaders are working with regulators..

Mark Manning - Facilitator

Mark leads the FCA’s policy work on sustainable finance and investor stewardship. In this role, he is responsible for several initiatives, including the FCA’s implementation of the TCFD’s recommendations and the FCA’s work with IOSCO on corporate reporting standards on sustainability.

Prior to joining the FCA in 2018, Mark spent fifteen years as a central banker with the Bank of England (BoE) and the Reserve Bank of Australia (RBA). He held a number of senior roles, with a particular focus on policy, research and supervision in the field of financial market infrastructures (FMIs).

Before joining the official sector, Mark spent several years as a fixed income and currency fund manager with Kleinwort Benson Investment Management and Goldman Sachs Asset Management. Mark holds Master’s degrees in Economics and Finance, from University College London and London Business School, respectively.

Sarah Breeden

Sarah is the Executive Director for Financial Stability Strategy and Risk and a member of the Financial Policy Committee (FPC). The FPC is the United Kingdom’s ‘macroprudential’ authority. It is tasked by Parliament with guarding against the financial system damaging the wider economy. Sarah is responsible for the Bank of England’s work to deliver that objective.

Sarah also leads the Bank of England’s work on climate change, domestically and internationally, a role she has held since 2016. This has included being Chair of the macrofinancial workstream of the international central bank and supervisors’ Network for Greening the Financial System (NGFS).

Prior to her current role, Sarah was the Executive Director for UK Deposit Takers Supervision, responsible for the supervision of the UK’s banks, building societies and credit unions. Before that, she was Executive Director for International Banks Supervision, where having joined the directorate in 2015, she was responsible for supervision of the UK operations of international banks.

Before moving into supervision, Sarah was a Director in the Bank's Financial Stability Strategy and Risk Directorate, where she focused on developing the UK’s macroprudential policy making framework and supporting the Financial Policy Committee. Previously she was head of the division that assessed risks to financial stability from financial markets, the non-bank financial sector, and the real economy.

Sarah led the Bank’s work to support the transition of prudential regulation of banks and insurers from the Financial Services Authority to the Bank.

Prior to that she was head of the Bank’s Risk Management Division and head of Special Projects in the Markets Directorate, leading the design and risk management of financial market operations undertaken by the Bank including those launched during the financial crisis

Sheldon Mills

Sheldon was appointed Executive Director, Consumers and Competition in December 2020. He was previously the Interim Executive Director of Strategy and Competition at the FCA. Sheldon joined the FCA in November 2018.

Previously, as Senior Director at the Competition and Markets Authority (CMA), Sheldon had overall leadership responsibility for the delivery of UK merger control across the entire economy and for the strategic design and implementation of the new UK State Aid regime. He is a qualified solicitor and prior to joining the CMA he practised law at King & Wood Mallesons and Jones Day, counselling a range of UK and international clients in antitrust and competition law.

Sheldon holds undergraduate and postgraduate law degrees from King’s College, London and was born and raised in Cardiff, Wales.

Chris Dodwell - Cross-cutting Data and Metrics Working Group, CFRF

Chris is a climate change and environmental policy expert with over 25 years’ public and private sector experience. He is responsible for managing Impax’s engagement in the development of policy issues and providing insights on policy to the firm’s investment teams.

Prior to working for Impax he worked for 10 years at the heart of the UK Government's work on climate change, including leading the UK’s implementation of the EU Emissions Trading System and heading the UK Delegation to the United Nations Framework Convention on Climate Change (UNFCCC). He then worked at Ricardo Energy & Environment as Director of Climate Change, Clean Growth and Strategic Partnerships where his team supported more than 15 countries develop their national climate plans ahead of the Paris Agreement.

John Godfrey - Lead, Innovation Working Group, CFRF

John has worked in the City of London for over thirty years, including for US, Japanese and European financial institutions.

He joined Legal & General in 2006, and over the following decade was responsible for group communications, public policy issues and the group brand. He is also Executive sponsor for wellbeing.

From 2016-17 John worked at Number Ten Downing Street as Head of Policy for Prime Minister Theresa May, where his team was responsible for advice on a broad range of UK domestic and Brexit-related issues.

He re-joined Legal & General as Corporate Affairs Director following the 2017 General Election.

John was educated at Lochaber High School and Oxford University and has also served as a special advisor to the Home Secretary.

Pam Kaur - Chair of the Risk Management Working Group , CFRF

Pam was appointed Group Chief Risk Officer in January 2020. She is a Group Managing Director and a member of the Group Executive Committee.

She joined HSBC in April 2013 as Group Head of Internal Audit. In April 2019 she was appointed Head of Wholesale Market and Credit Risk and Chair of the new enterprise-wide non-financial risk forum.

Pam has an MBA in finance, and a BCom (Hons) from Punjab University in India. She qualified as a chartered accountant at Ernst & Young and began her career in internal audit at Citibank.

She has extensive experience of creating and looking after large teams across different regions and has performed many senior roles in audit, business, compliance, finance and risk management at other global financial institutions. She has also worked with regulators and supervisory boards across the world.

Former appointments include: Global Head of Group Audit for Deutsche Bank; Chief Financial Officer and Chief Operating Officer of the Restructuring and Risk Division, Royal Bank of Scotland Group plc; Group Head of Compliance and Anti-Money Laundering, Lloyds TSB; Chief Compliance Officer, Citigroup International, and Global Director of Compliance, Global Consumer Group, Citigroup.

Pam serves as a non-executive Director of Centrica plc. She is also a Fellow member of The Institute of Chartered Accountants in England and Wales.

Saker Nusseibeh - Chair of the Disclosures Working Group, CFRF

Saker is CEO of the international business of Federated Hermes. A pioneer of responsible investing and long-term stewardship as the basis for sustainable wealth creation, he became CEO in November 2011 having joined the firm in June 2009 from Fortis Investments.

Saker was named CEO of the Year at the 2018 Financial News Asset Management Europe Awards and European Personality of the Year at the 2020 Funds Europe Awards.

He was awarded a CBE in the Queen’s 2020 New Year’s Honours list for services to Responsible Business and Finance

Guus Schoorlemmer - Chair of the Scenario Analysis Working Group, CFRF

Guus joined Aviva in November 2020 as Group Risk Director. In July 2021, he was appointed Interim Chief Risk Officer and a member of the Group Executive Committee. He is responsible for Aviva’s Risk, Actuarial, Compliance, Financial Crime and Regulatory Engagement functions.

Prior to joining Aviva, Guus was Group Director of Risk Oversight at NN Group, managing Group business units, Model Validation and the Risk and Actuarial service centre. He was also responsible for Global Crisis Management and was a chair and member of various Supervisory Boards of subsidiaries, including NN Bank. He joined the NN Group in 2015 as CRO International.
Prior to joining the NN Group, Guus held several senior roles including Director of Capital Management and Chief Risk Officer of Aegon The Netherlands.

Guus holds a degree in Industrial Engineering from the Universiteit Twente in The Netherlands and is a certified financial analyst.