On 15 July, the International Association of Insurance Supervisors (IAIS) launched a public consultation on climate risk supervisory guidance.
Climate change, as a source of risk that could have an impact on the insurance market, has always been a key issue for the IAIS. For this reason, the IAIS considers it important to adopt a consistent global approach.
The public consultation consists of two documents:
- a draft application Paper on public disclosure and supervisory reporting of climate risk; and
- a draft supporting material to the first document on macroprudential, group supervisory issues and climate risk.
The public consultation is open until 30 September 2024.