This report aims at shedding light on the evolution of industry practices regarding governance of the risk associated with climate change and their evolution since the previous document published by the ACPR in 2019 (No. 102 analyse et synthèse, “French insurers facing climate change risk” published in April 2019).
This report forms part of a drive towards co-construction and good practice sharing. It brought together twenty-one insurance and re-insurance groups as well as three trade associations for four round-table discussions scheduled between April and June 2021, during which the various aspects of climate governance were studied according to five topics: strategy, risk management, communication, role in awareness-raising and internal organisation.
Without being exhaustive, the practices detailed in this document illustrate the way in which (re)insurers have taken into consideration all the issues related to the impacts of climate change and are acting to strengthen their governance of climate risks. This report can serve as a source of inspiration for institutions in their efforts to integrate climate change risks.