FOR IMMEDIATE RELEASE
Solvency II Wire, in collaboration with Royal London Asset Management and Slaughter and May, bring together senior regulators and industry figures to discuss the challenges of climate disclosures in the insurance sector.
LONDON Thursday 16 June 2022 – Representatives from the Financial Stability Board (FSB), the European Insurance and Occupational Pension Association (EIOPA) and the Financial Reporting Council (FRC), joined speakers from Aviva, Just Group, Marsh and Phoenix Group in a unique and open discussion on the topic.
The seemingly inexorable rise in the demand for insurers to provide climate-related information (both publicly and internally) alongside growing regulatory requirements are creating new pressures and challenges for the industry.
At its core lies the conflict between the need to provide climate disclosures that are clear, comprehensive, high-quality and timely, when climate metrics and their interpretation are still in their infancy. This places both the industry and regulators at a unique moment in time when all are trying to make sense of the information and how to best provide, regulate and use it.
The discussion was observed by invited industry practitioners, who contributed to the lively debate. The topic was framed along three broad areas: data creation and origination, comparability and credibility, and data usability.
Gideon Benari, Editor, Solvency II Wire, said: “Since its formation in 2011, Solvency II Wire had collaboration and dialogue at its core. As we expand the scope of our work to climate change, we continue to develop new and innovative ways to bring together industry and regulators to address pressing issues facing the industry.”
Past collaborations by Solvency II Wire include written symposia on Solvency II long-term guarantees measures, look-through reporting and the Governance Trap, a ground-breaking roundtable dialogue between supervisors on the role of governance in financial services.
Insurance Climate Disclosures: present state and future outlook, was held at the offices of Slaughter and May in London, on 14 June 2022.
An event report and a series of articles from participants is forthcoming. Click here to subscribe to the mailing list to receive notification of publication by email.
