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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

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.

Resilient cities: A toolkit for insurers to identify the business case

15 November 2017

November 2017 – This toolkit is designed to help insurers identify commercial opportunities, through the development of new products and services that can support cities in their response to natural catastrophes. The toolkit, which is split across two workshops, contains all the material a facilitator needs in order to hold internal conversations on the future role of their organisation in managing the protection gap.

Insurable Cities: The ClimateWise Principles Independent Review 2017

15 November 2017

November 2017 – The ClimateWise Principles Independent Review 2017 of the six ClimateWise Principles finds a third year of improved scores for members of the insurance industry leadership group. On its 10th anniversary the report finds the industry has improved its investment activities but members should look to further integrate climate change related initiatives into their core business strategies and look to increase board-level oversight on climate change and sustainability.

How can the insurance industry support sustainable infrastructure in emerging economy cities?

16 May 2017

16 May 2017 – ClimateWise publishes new guide to multi-sector collaboration on infrastructure risk and resilience.

The City Innovation Platform: A guide to multi-sector collaboration on resilience

3 May 2017

May 2017 – This guide looks at the City Innovation Platform (CIP), a two-day workshop in Dar es Salaam, Tanzania in 2016. The CIP explored how the public and private sectors can collaborate more effectively to deliver sustainable, financeable and insurable infrastructure projects. The workshop involved the active participation from a city network of senior Dar city officials, the insurance industry, asset managers and the private sector.

Press Release: ClimateWise CEOs call for more action in building resilience to climate change – 1 October 2015

7 March 2017

PRESS RELEASE ClimateWise CEOs call for more action in building resilience to climate change CEOs of ClimateWise welcome the Prudential Regulation Authority’s assessment of the impact of climate change on the insurance industry, yet warn that more needs to be done to improve resilience 1 October 2015 The leaders of 15...