Welcoming today’s Green Finance Strategy from the Government, Director General of the Association of British Insurers Huw Evans said:
“Tackling the climate crisis requires concrete actions to change the current course of our planet, and it’s good to see the comprehensive strategy being laid out today to help the financial sector play its part. The biggest thing our sector can do is use its sizeable investment portfolios to move funding away from things which are polluting the planet and into greener initiatives. Doing that meaningfully requires a better understanding of the way all firms contribute to and are affected by climate change, something Government has recognised with its targets on disclosure today.
“Insurers and other investors can also be transparent about the way their operations and the assets they manage impact on the climate and as a result the ABI today becomes a formal supporter of the Taskforce for Climate-related Financial Disclosure (TCFD), as encouraged by the Green Finance Strategy. This is an industry-developed framework to provide consistent information to financial markets about the exposure of individual firms to climate risk.”