Tuesday 15th September 2020 |
Text too small? |
Blair Turnbull, Tower Insurance’s Chief Executive Officer, welcomes today’s announcement on mandatory reporting of climate-related financial disclosures and said that the company would look to develop its reporting criteria to introduce this type of disclosure ahead of the 2023 timetable set by the government.
"As a Kiwi insurer, we are acutely aware of the climate risks faced by New Zealand and it is our role to help mitigate and prepare for things like rising temperatures, changing sea levels, increased chances of flooding and more volatile weather patterns," said Turnbull.
"Insurers around the world are starting to implement risk-based pricing for climate change, and we are likely to see this happen in New Zealand over time as climate change impacts increase.
"We believe that risk-based pricing is a fairer way to price insurance. It helps to educate customers, communities and other stakeholders about risk and encourages action to help mitigate and reduce the impacts of earthquake, climate change and other natural disasters.
"Mandatory reporting requirements will help increase transparency around what actions are being taken by businesses to prepare for these risks and increase the resilience of our communities and the economy," said Turnbull.
Source: Tower Insurance
No comments yet
PaySauce Quarterly Market Update - September 2024
October 2nd Morning Report
Rua Releases Annual Report for Year Ended 30 June 2024
SCL - Settlement of orchard sales
The Warehouse Group 2024 ASM and Director Nominations
AIR - Update on Chief Operational Integrity and Safety Officer
Comvita Limited - Annual Report 2024
September 27th Morning Report
Spark announces departure of Finance Director
FBU - Retail Entitlement Offer Opens