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Required disclosure of climate-related financial risks
- Publication Date: December 8, 2021
- Language: English
- Geographic Area: Europe, Switzerland
- Issuing Entity: FINMA
- Application Scope: Insurances
- Theme: Indicators for measuring climate risk, Regulatory reporting, Reporting and Communication
- Text Nature: Regulations
- General Topic: Climate risk
(Cm 13.2 – 13.6) The disclosures include the following information at a minimum:
• the main features of the governance structure at the insurance company to enable it to identify, evaluate, manage, monitor and report on climate-related financial risks;
• description of the short-, medium- and long-term climate-related financial risks and their impact on the insurance company’s business and risk strategy and any effects on existing risk categories;
• risk management structures and processes in place to identify, evaluate and manage climate-related financial risks;
• quantitative information (targets and key data) on climate-related financial risks including the methodology used.