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
AFT Pharmaceuticals Limited (NZX: AFT) Maxigesic IV licensed in Eight New European Markets
My Food Bag Group Limited (NZX: MFB) Lists on NZX & ASX
Fonterra Shareholders Fund (NZX: FSF) Fonterra Lifts 2020/21 Forecast Farmgate Milk Price Range
Evolve Education Group Limited (NZX: EVO) Announces Acquisitions and Intention to Resume Dividend
My Food Bag Group Limited (NZX: MFB) L&Q Notice My Food Bag Group Limited
General Capital Limited (NZX: GEN) Equifax Affirms General Finance BB- Rating
Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) Appoints New General Manager Investment
Synlait Milk Limited (NZX: SML) FY21 Guidance Update
Z Energy Limited (NZX: ZEL) Announces Changes to Executive Team
Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) FY21 Third Quarter Dividends