Last week 10 insurance regulators gathered at the Sustainable Insurance Forum (SIF) in Kuala Lumpur to develop guidance so that insurance firms can respond effectively to climate risks. Supervisors taking part included those from Australia, Brazil, France, Morocco, the Netherlands, Singapore, South Africa and the UK as well as California and Washington state in the US, with Malaysia as an observer.
UN Environment provides the secretariat for the SIF and Nick Robins, co-director of UN Environment’s Inquiry into the Design of a Sustainable Financial System said, “The SIF is gaining real momentum. In July, the Forum issued a statement of support for the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). It’s now building on this through the guidance document on climate risk and work on sustainable insurance roadmaps.”
Speaking of Nick Robins, he and California Insurance Commissioner Dave Jones co-authored an Op-Ed that appeared in the Huffington Post titled Insuring the Future that is well worth a read.
Last but not least we’d just like to remind everyone that next week we’ll be launching 4 reports in 4 days in 2 continents. So we will have lots of updates and promise no spam!
- Roadmap on Sustainable Finance – a collaboration with the World Bank – For more information click here – 13 and 16 November launch
- Singapore as a Green Finance Hub for ASEAN and Asia – a collaboration with the Singapore Institute for International Affairs on the request of the Monetary Authority of Singapore – 15 November launch
- ASEAN Green Finance Opportunities – a collaboration with the DBS Bank, the first quantification of the green finance opportunities across the region – 15 November launch
- China Green Finance Progress Report – a collaboration with the Central University for Finance and Economics in Beijing, the first published review of progress in China on green finance set against the State Council’s 35 recommendations on green finance adopted in August 2016 – 16 November launch
More information and updates here.