Analysis of close to 200 annual reports published by European insurance groups in 2020 shows that only about one third included information about key climate related themes.
Solvency II Wire Data – green, the climate disclosure portal of Solvency II Wire Data, conducted text analysis on the annual reports of 188 insurance groups.
Several climate related themes were identified in 66 reports. The themes include, net-zero targets, commitment to the Paris Agreement, greenhouse gas emissions: scope 1, scope 2 and scope 3, WACI and biodiversity.
A further 17 insurers included data in ESG and sustainability reports including TCFD reports. Others published information on dedicated sections of their websites.
Analysis of climate disclosures in the UK insurance market reinforces the dominance of the annual reports as the main vehicle for climate and ESG reporting.
Information about WACI and biodiversity were least reported in the sample.
