For insurers, climate transition risk has two distinct, but related, aspects. On the one hand is what they do in their own operations, in areas such as reducing emissions and reporting. On the other is the increasing awareness of and attention on what the transition to net zero means for underwriting, claims, products and, potentially, reputation.

For (re)insurers, climate transition risk has two distinct but related aspects. First, the assessment of their own climate transition across their operations, with a particular focus on emissions reduction and reporting, which has gained particular attention this year following the publication by the Net Zero Insurance Alliance of the first Target-Setting Protocol, which includes target setting for insurance associated emissions across underwriting portfolios. Secondly, the need to understand and assess what the global transition to net zero means for areas including underwriting, claims, products and potentially reputation.

In this podcast, Michelle Radcliffe joins Sina Thieme for this episode of (Re)thinking Insurance to discuss the challenges and opportunities for insurers of contributing to an orderly transition.