Sharechat Logo

Tower supports climate risk reporting

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 




  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report