Dina Medland , CONTRIBUTOR
I cover corporate leadership, the boardroom and corporate governance
Opinions expressed by Forbes Contributors are their own.
Where there is risk, there is also opportunity. Getting the global insurance industry to act on climate risk is one of the tasks that has been undertaken by Mark Carney, the Governor of the Bank of England, as part of his role as Chairman of the Financial Stability Board (FSB).
Last year the FSB launched a task force on climate-related disclosure to recommend how asset owners, the companies they invest in and financial intermediaries should report the potential impact of climate change on their bottom line.
Mr Carney warned a business audience in Toronto in his native Canada last Friday that only a third of the world’s biggest 1,000 companies are providing enough disclosure to investors about the potential impact of carbon pricing on their businesses. He also said there was a growing recognition that the liability of company directors in lawsuits involving climate disclosure might be a “lurking issue” for the insurance industry.
http://www.forbes.com/sites/dinamedland/2016/07/20/european-insurers-lead-global-industry-on-climate-risk-action/#2b80499385cd
