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Insurers look for new ways to cope with climate change

Author: Shawn McCarthy, The Globe and Mail, Published on: 29 November 2015

…[E]xecutives from Intact Financial and researchers from the University of Waterloo will gather in Toronto to launch the Intact Centre for Climate Adaptation. The centre will conduct research and work with Canadians – both property owners and corporations – on practical measures to reduce risks posed by climate change and extreme weather. Intact will provide $4.25-million over five years…Corporate executives and their boards are increasingly required to assess the potential impact that changing climate could have on their operations and business models. Institutional shareholders are demanding that companies…outline their carbon risk. In a recent speech, Bank of England Governor Mark Carney warned that climate change could in future undermine financial stability. The international Financial Stability Board, headed by Mr. Carney, recommended Canada and other Group of 20 countries issue clear guidelines for disclosure of carbon intensity of different assets…

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