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Cambridge Institute for Sustainability Leadership

ClimateWise

 


Representing a growing global network of leading insurance industry organisations, ClimateWise helps to align its members’ expertise to directly support society as it responds to the risks and opportunities of climate change.

ClimateWise, as part of the Centre for Sustainable Finance, is uniquely placed to bring together the insurance industry and related organisations with world class academic expertise and global sustainability leaders to collectively and innovatively tackle climate change. 

Decisions and positions of the group do not represent the policies or positions of CISL or of the wider University of Cambridge.

Areas of focus


Disclosure

ClimateWise members are required to annually disclose their firm’s response to climate change through the ClimateWise Principles framework (link). Member reports are independently assessed, scored and benchmarked as a means to track and incentivise progress year on year. A collective public review (link) is published each year which serves to inform regulators and broader financial markets on the insurance industry’s response to climate change.

Research

ClimateWise undertakes impact-orientated, collaborative research to help insurers and the wider financial sector proactively respond to the risks and opportunities posed by climate change. Three core themes focus on the industry’s leadership, regulation and climate-risk.

Convening

ClimateWise membership is open to all (re)insurers, brokers and other insurance industry service providers globally who are leaders, or aspire to play a leadership role, in supporting the insurance industry respond to the risks and opportunities of climate change.

The Insurance Advisory Council is comprised of C-suite executives from across ClimateWise’s membership base. 

 

"ClimateWise is an important initiative, assisting the insurance industry in its important role to build societal resilience. Insurers have unique insights into the risks that the world is facing and the ClimateWise Principles provide guidance to share this knowledge more broadly; so informing public policy and supporting the identification, understanding and management of climate risk. Through decisive action, insurance companies can facilitate the transition a low-carbon economy that is resilient to a changing climate, while reducing the climate risk protection gap."

Anna Sweeney, Chair of the Sustainable Insurance Forum and Executive Director, Insurance, Bank of England

 

Meet the team


Dr Bronwyn Claire

Dr Bronwyn Claire

Senior Programme Manager

Rachel Austin

Rachel Austin

Project Manager

Meng Lian Li

Meng-Lian (Lily) Li

Project Manager

Thom Marx

Thom Marx

Project Co-ordinator

 

Latest

ClimateWise Principles Independent Review 2019

13 December 2019

17 December 2019 – The ClimateWise Principles Independent Review for 2019 is a milestone for ClimateWise members, representing the first year of reporting in full alignment with the Recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD).

Finance’s shifting focus from risks to solutions

26 February 2019

26 February 2019 – Kajetan Czyz, Programme Director, Sustainable Finance, reflects on four decades of progress in the field of sustainable finance, which is entering a new phase of maturity. He describes CISL’s recent work in developing practical solutions for investors, banks and insurance companies to proactively encourage, create and exploit the opportunities inherent in the shift towards a sustainable economy.

Investors and lenders need better tools to manage climate risk to homes, mortgages and assets, finds new research

18 February 2019

22 February 2019 – New open-source models from ClimateWise, a global insurance network, offer step-by-step guides to help the financial industry prepare for risks posed by climate change.

Transition risk framework: Managing the impacts of the low carbon transition on infrastructure investments

18 February 2019

22 February 2019 – The ClimateWise Transition Risk Framework provides an open-source, step-by-step methodology on how to manage the risks and capture emerging opportunities from the low carbon transition.

Physical risk framework: Understanding the impact of climate change on real estate lending and investment portfolios

18 February 2019

22 February 2019 – The ClimateWise Physical Risk Framework demonstrates how the expertise and tools of the insurance industry can support other parts of the financial system to understand their physical risk exposure.

Helping insurers gear up for regulation on climate related financial risk: ClimateWise Principles now aligned with TCFD recommendations

13 December 2018

17 December 2018 – The ClimateWise Principles, which aim to help insurers disclose their response to climate change, have now been revised to align fully with the recommendations set out by the Taskforce for Climate-related Financial Disclosures (TCFD).

Gearing up for regulation: The ClimateWise Principles Independent Review 2018

13 December 2018

December 2018 – The ClimateWise Principles Independent Review 2018 finds the largest year-on-year improvement in group mean score against the Principles since 2014, and confirms the full alignment of the updated ClimateWise Principles with TCFD recommendations.

ClimateWise transition risk framework: Managing the impacts of the low carbon transition on infrastructure investments

22 May 2018

The ClimateWise Insurance Advisory council has launched an open-source framework to support investors and regulators assess how the transition to a low carbon economy will impact the financial performance of infrastructure investments. The framework and accompanying step-by-step guide align with the G20 Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) and inform practical actions – for asset managers, owners and regulators – on capturing emerging opportunities from the low carbon transition.

Helping insurers get on the front foot in managing climate change risks

4 May 2018

4 May 2018 – The ClimateWise Principles set to become the go-to TCFD disclosure framework for insurance industry.

2017 Set to Be Among the Most Expensive on Record After Year of Climate Disasters, Insurance Leaders Warn

20 November 2017

21 November 2017 – A climate risk protection gap of US$1.7 trillion caused by extreme weather over the past decade opens up many new opportunities for insurers, says ClimateWise.