Insuring the climate transition: The final report of UN PSI’s TCFD pilot project
UNEP-FI PSI global webinar
Insuring the Climate Transition:
Enhancing the insurance industry’s assessment of climate change futures
11 February, 2021
About the webinar
Over the past year, 22 leading insurers have collaborated under UNEP’s Principles for Sustainable Insurance Initiative (PSI) to pilot state-of-the-art approaches—particularly the use of climate change scenarios—to better assess climate-related physical, transition and litigation risks in the insurance business. The overall aim of this PSI project is to contribute to the development of consistent and transparent analytical approaches that can be used to identify, assess and disclose climate-related risks and opportunities in insurance portfolios in a forward-looking, scenario-based manner.
Endorsed by Mark Carney, UN Special Envoy on Climate Action & Finance and the UK Prime Minister’s Finance Adviser for COP26, the final report captures the key findings of the largest collaborative effort by insurers—representing over 10% of world premium and USD 6 trillion in assets—to pilot some of the most challenging recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD)..
- Butch Bacani, Programme Leader, UNEP Principles for Sustainable Insurance Initiative (PSI)
- Stefan Claus, Technical Head of Insurance, Bank of England’s Prudential Regulation Authority.
- Ronan Hodge, Head of Risk Management & Returns, COP26 Private Finance Hub.
- Nicole Roettmer, Partner, Sustainability & Climate Change Lead – Europe, PwC Germany
- Anne Michaels, Senior Manager, Sustainability, ESG & Climate Change, PwC Germany.
- Antonios Koumbarakis, Director, Strategic Regulatory & Sustainability Services, PwC Switzerland.
- Daniel Metzger, Climate Law Fellow, Sabin Center for Climate Change Law & Postdoctoral Research Scholar, Columbia Law School.
- Jon Williams, Partner, Sustainability & Climate Change, PwC UK and Member, TCFD
- Rachel Watson, Senior Manager, Sustainability & Climate Change, PwC UK.
On 11 February, two webinars were held to cater to different time zones:
- 1st webinar: 9:00-10:30 am Central European Summer Time
- 2nd webinar: 3:00-4:30 pm Central European Summer Time