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This is a preview article on climate change risk for insurers that was the result of a round-table held at the ICAEW featuring members from banks, insurance companies and independent experts.
Looking at practical examples interested professionals realise the task at hand is not insurmountable but a process that needs to be started and progressively expanded.
Climate change related financials risks will have to be embedded in financial services firms’ strategies and risk management and disclosed in line with the TCFD recommendations.
Zsuzsanna Schiff explains ICAEW’s efforts to bolster financial services firms’ climate-related financial disclosures