COP26 PSI-How are US insurance regulators taking action on climate change risks?

Presented by

UN's Principles for Sustainable Insurance (PSI) & US National Association of Insurance Commissioners (NAIC)

About this talk

**Please access the link below to watch the second panel. Due to the technical accident, we proceeded to the second panel on Webex. The recording was resumed shortly after panel 2 began. Please accept our sincere apologies for such inconvenience caused. Password: Ytp7Ss4i Recording link: https://unep.webex.com/unep/ldr.php?RCID=1d843da13049590d315a16a748f7920f This event is scheduled as a part of "The PSI COP26 Sustainable Insurance Series" to raise climate ambition. The US is the world’s largest insurance market, and insurance regulation in the US is state-based. This event will convene US Insurance Commissioners from various states to discuss how they are taking action on climate change risks and helping build resilience, the work of the Climate & Resiliency Task Force of the US National Association of Insurance Commissioners (NAIC), as well as key topics such as climate risk disclosure by insurers and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Speakers Ricardo Lara, Insurance Commissioner, California / Co-Chair, Climate & Resiliency Task Force, US National Association of Insurance David Altmaier, Insurance Commissioner, Florida / President, US National Association of Insurance Commissioners Raymond Farmer, Insurance Commissioner, South Carolina / Co-Chair, Climate & Resiliency Task Force, US National Association of Insurance Commissioners Andrew Mais, Insurance Commissioner, Connecticut Kathleen Birrane, Insurance Commissioner, Maryland Mike Kreidler, Insurance Commissioner, Washington Moderator: Butch Bacani, Programme Leader, UN Environment Programme’s Principles for Sustainable Insurance Initiative

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United Nations Environment Programme Finance Initiative (UNEP FI) is a partnership between United Nations Environment and the global financial sector created in the wake of the 1992 Earth Summit with a mission to promote sustainable finance. More than 240 financial institutions, including banks, insurers, and investors, work with UN Environment to understand today’s environmental, social and governance challenges, why they matter to finance, and how to actively participate in addressing them. UNEP FI’s work also includes a strong focus on policy – by facilitating country-level dialogues between finance practitioners, supervisors, regulators and policy-makers, and, at the international level, by promoting financial sector involvement in processes such as the global climate negotiations.