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The ClimateWise Principles

The ClimateWise Principles support ClimateWise members to disclose their specific response to the risks and opportunities of climate change to the financial markets.

ClimateWise principles The ClimateWise Principles were launched in 2007 to frame member activities as they integrate a response to climate change across their business activities. The ClimateWise Principles are unique in being tailored specifically to the risks and opportunities of climate change.

Members are required to annually disclose their individual progress against The ClimateWise Principles. Their submissions are then independently audited and each member is provided with a confidential, benchmarked ranking. This allows them to compare progress against their ClimateWise peers. An independent, public annual review summarises the overall progress made by the ClimateWise community. This helps the insurance industry to disclose to governments, regulators and society more broadly how they are responding to the physical, transition and liability risks and opportunities climate change presents.

The ClimateWise Principles were updated in 2013, to reflect the significant progress made by the membership.

“ClimateWise has been valuable in helping the industry to consider and disclose their climate-related risks and opportunities – both in their underwriting and investment decisions – as well as in promoting a culture of disclosure and awareness to climate risk in financial markets.”

Mark Carney, Chairman of the G20 Financial Stability Board

“Compliance with ClimateWise Principle 1 – ‘Lead in Risk Analysis’ can help to inform our rating analysis with regards to competitive position, capital adequacy, earnings and enterprise risk management.”

S&P Global

“ClimateWise members are already on the front foot with regards to implementing the TCFD recommendations. They have been voluntarily considering and disclosing their strategic response to climate change for a decade.”

Mary Schapiro, Special Advisor to the Chair of the Task Force on Climate-related Financial Disclosures (TCFD) and former Chair of the US Securities and Exchange Commission


ClimateWise Principles review2017 ClimateWise Independent Review

The ClimateWise Principles Independent Review 2017 finds that ClimateWise members continue to lead the way in responding to climate change, and continue to make steady progress. In 2017 the average scores increased from 50–60 per cent. One member reaching a new top score (under new marking criteria) of 91 per cent. The ClimateWise Principles have considerable overlap with the Financial Stability Board’s (FSB) Task Force on Climate-related Financial Disclosure (TCFD) and 2017 is the first year that the Principles have encouraged members to disclose against the TCFD recommendations by including its requirements in the scoring guidance (on an unscored basis initially). 



ClimateWise Principles Independent Review 2016

2016 ClimateWise Independent Review

The ClimateWise Principles Independent Review 2016 finds that ClimateWise members, on average, have continued to improve their scores for the second consecutive year. Four members have attained a score of over 80 per cent this year, compared with just one in 2015.

The reported activities, across all six of the ClimateWise Principles, demonstrate a commitment by members to play their part in supporting the low carbon, climate-resilient transition. They show year-on-year progress in integrating the risks and opportunities of climate change across their businesses yet highlight the need for the industry to do more within its investment activities.



CW principles cover2015 ClimateWise Independent Review

The 2015 independent annual review of the six ClimateWise Principles shows improved scores for members of the insurance industry leadership group. Progressive insurance companies are considering their exposure to climate risks while also developing their role as societies' risk managers.






2014 ClimateWise Independent Review

2012 ClimateWise Independent Review

2011 ClimateWise Independent Review

2010 ClimateWise Independent Review

2009 ClimateWise Independent Review

2008 ClimateWise Independent Review