Insurers Improve Climate-Related Disclosures, But Still Lag

Insurers are improving their disclosures of their climate-related risk management efforts, but continue to lag other major industries in reporting climate metrics and targets, according to a new report The Financial Stability Board’s Task Force on Climate-related Financial Disclosures finalized in June 2017 a set of final recommendations to guide companies in assessing the material risks climate change poses to their operations and develop plans to mitigate these risks at the request of the G-20 nations. The recommendations cover four core elements: governance, strategy, risk management, and metrics and targets, and were seen as likely to improve the consistency and depth of corporate climate risk reporting.