SIF Implementation of TCFD Recommendations by Insurance Supervisors and Regulators

The UNDP Sustainable Insurance Forum (SIF) has published a paper outlining supervisory and regulatory practices in implementing the Taskforce for Climate-related Financial Disclosures (TCFD) recommendations. This paper builds upon the SIF’s recognition of the TCFD recommendations as the preeminent disclosure framework for climate-related risks.

The paper highlights the improvements in the quantity, quality and comparability of climate-related disclosures observed through the implementation of the TCFD recommendations.

The SIF paper condenses the learnings from the current practices of SIF members in implementing the TCFD recommendations in their own jurisdictions, including using the information available in supervisory activities. Case studies from SIF members provide more detailed insights into the ways in which supervisors and regulators are encouraging voluntary TCFD-aligned disclosures and mandating requirements for such disclosures.