UK Insurers Back Climate-Risk Reporting Disclosures

Law360, London (July 4, 2019, 1:10 PM BST) -- British insurers have backed plans to make the industry disclose climate-related risks to their business, saying the data will help the sector offer policies to cover an expected increase in extreme weather conditions and invest in companies that have moved away from fossil fuels.

The Association of British Insurers said on Wednesday that it is backing a framework developed by a Financial Stability Board task force on climate-related financial disclosures. The framework, set out in 2017, allows companies across the globe to report the financial impact of climate change on their business.

The ABI was responding to proposals outlined by the U.K....

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