Climate risks, PwC Switzerland supports pilot project in the insurance industry

PwC Switzerland is advising a pilot group of the United Nations Environment Programme Finance Initiative (UNEP FI) Principles for Insurance (PSI) on developing methods and piloting a climate risk assessment approach.

This pilot group consists of 22 world-leading insurance companies and aims with the project to develop an industry-wide approach to climate risks and opportunities. In details, PwC is supporting the pilot group by providing advice on developing the analytical tools to test innovative approaches to climate risk analysis. The tools and indicators developed in the course of the project are based on the scenario analysis method to determine the climate-related risks and opportunities for insurance underwriting portfolios. Antonios Koumbarakis (pictured) Head Strategic Regulatory & Sustainability Services at PwC Legal is involved in this project.