Description

The Centre for the Study of Financial Innovation (CSFI) conducts an annual survey detailing the risks facing the global insurance sector. The 2021 survey revealed that climate change is the fastest rising risk and it moved into the top five for the first time. The effects of climate change are already being felt and the demand from shareholders, governments, regulators and rating agencies for ESG reporting is quite a change for most insurers. While larger insurers have the ability to dedicate significant resources to formulating their strategy around climate change, smaller insurers are less able to stand up large programs in the same manner. The EU has led in climate change reporting, so we have performed a review of ESG reporting across the insurance sector in the UK and US to date and looked at what smaller insurers may be able to learn from larger insurers who already have their public disclosures up and running, or smaller insurers who have already made good progress.

Tracks:

• 
  Finance

Exporter Choices

1. Learning Objective 1:
Identify ESG reporting trends and best practices from EU and US large insurer’s public disclosures, as well as smaller insurers who have made good progress.

2. Learning Objective 2:
Recognize existing and developing requirements for ESG reporting imposed by regulators and rating agencies.

3. Learning Objective 3:
Identify some practical steps to develop a framework for providing ESG information to stakeholders.

4. Target Audience:
Accounting/Finance

6. Prerequisites *:
Knowledge of accounting in the insurance company environment

Please select your session type::
Experimental/Case Study – speakers review a case study and lessons learned