23 January 2023 – The ClimateWise Principles Independent Review for 2022 sees scores continue to increase across the membership.
Download the ClimateWise Principles Independent Review
About
The ClimateWise Principles have provided a framework for the insurance industry to disclose climate-related risk and opportunity since 2007. All ClimateWise members report annually against this framework. Reports are independently reviewed, scored and anonymised in a combined report to form the ClimateWise Principles Independent Review.
Findings
In the face of profound environmental and geopolitical challenges, 2022 saw the highest ever number of members submitting a report against the ClimateWise Principles with a small improvement in the average score.
ClimateWise members recognise the importance of setting net-zero targets and introducing meaningful strategies to deliver the critical action needed on climate change. While progress has accelerated, the complex, systemic and immediate demands of the climate crisis require consistent improvement at pace from all stakeholders in the insurance industry, working individually and collectively to support a rapid and just transition to net zero.
To support this change, the ClimateWise membership and broader insurance industry must accelerate and expand not only the actions they are taking, but also their role as long-term partners to the wider economy in its journey to a net-zero and climate-resilient future. Doing so includes developing the details behind the insurance industry’s own transition plans and ensuring products, services and tools meet the needs of society.
Citing this review
Please refer to this review as University of Cambridge Institute for Sustainability Leadership and Deloitte (CISL). (2023). The ClimateWise Principles Independent Review 2022. Cambridge, UK: Cambridge Institute for Sustainability Leadership.
