The International Association of Insurance Supervisors announced on 14 November 2019 the adoption of v2.0 of the global Insurance Capital Standard (ICS) which will undergo confidential reporting for 5 years starting from 2020. This session will include specific experiences from Legal and General (L&G) as well as global industry perspectives from EY.
This session will cover:
- A brief overview of the demands of the PRA supervisory statement on financial impacts related to climate change
- Industry insights into PRA climate risk business plans – what are the emerging themes and minimum standards which we have observed?
- Snapshot of an example climate risk strategy setting out key workstreams and activity steps for successful execution
- Overview of a climate risk strategy execution timeline – turning planning and theory into practical reality
- What does the future hold? Deep dive into the steps for success in 2020 and pitfalls to avoid