Further information on our climate-related financial disclosures (TCFD) 2021
As part of our Annual Report 2021 package, we recently published our climate-related financial disclosures (TCFD). These disclosures aim to improve investors’ and other stakeholders’ ability to appropriately assess and price climate-related risks and opportunities in Swiss Re's re/insurance business, investment activities and operations.
We have played an active role in the Task Force on Climate-related Financial Disclosures (TCFD) since its creation by the Financial Stability Board and began to implement the TCFD recommendations in the 2016 Financial Report. Since then, we have broadened the scope of our climate-related disclosures structured along the four pillars of governance, strategy, risk management, and metrics and targets.
Our 2021 TCFD report extends our disclosures in the following areas:
- We have further expanded our reporting on how we manage climate-related risks beyond property re/insurance and additional metrics for investment activities.
- We highlight the long-term growth potential and specific solutions related to climate change mitigation and adaption, such as renewable energy or natural catastrophe re/insurance.
- We show our progress towards net-zero emissions and how Swiss Re plans to deliver on our net-zero ambition for underwriting activities and investment portfolio and operations.
A particular focus of the 2021 report is the assessment of the impact of different climate change scenarios on underwriting and investment activities. The results of this analysis suggest that for the most material exposures for property natural catastrophe re/insurance, the projected increases of annual expected losses by 2050 do not exceed the increase of insured weather-related losses over the past three decades, which have already been shaped by the ongoing climate processes.
Download the full TFCD report to find out more.