Verisk Publishes 2023 Task Force on Climate-Related Financial Disclosures (TCFD) Report
January 11 2024 - 8:03AM
Verisk Publishes 2023 Task Force on Climate-Related Financial
Disclosures (TCFD) Report
Verisk (Nasdaq: VRSK), a leading global data analytics and
technology provider, has published its first formal report prepared
in accordance with the framework recommended by the Task Force on
Climate-related Financial Disclosures (TCFD). While the company
regularly discloses information on its climate strategy, the report
incorporates analyses of physical risk, transition risk and carbon
pricing for the first time.
“As a strategic partner to the global insurance industry,
analyzing risks is one of the key components that drives our
overall strategy and investments aimed at supporting our clients
and building resilience for individuals, businesses and
communities,” said Lee Shavel, Verisk president and CEO. “That same
theme underlies our TCFD report. This report is more than an
exercise in self-reflection. It signifies our continued commitment
to sustainability, meaningful emissions reductions and
climate-related and extreme event research that informs the
solutions and services we provide to a diverse and growing client
base.”
Verisk’s commitment to global resilience is evident in its risk
assessment solutions, which include catastrophe models that can
help insurers and reinsurers quantify potential risk, and ESG risk
datasets that can help the world’s largest organizations
effectively manage the challenges posed by climate change and
energy transition. These same tools were used to review and
validate the results of the independent assessment.
Highlights of the report include:• A physical risk analysis that
assessed exposure to climate-related hazards across the company’s
operations.• A transition risk analysis that considered the risk
associated with a low-carbon economy and its impact across policy
and legal, technology, market, and reputational categories.• An
evaluation of potential risks of carbon pricing using Net Zero 2050
and Divergent Net Zero scenarios.
Verisk’s 2023 TCFD report can be found here. To learn more about
Verisk’s commitment to corporate social responsibility, click
here.
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About Verisk Verisk (Nasdaq: VRSK) is a leading
strategic data analytics and technology partner to the global
insurance industry. It empowers clients to strengthen operating
efficiency, improve underwriting and claims outcomes, combat fraud
and make informed decisions about global risks, including climate
change, extreme events, ESG and political issues. Through advanced
data analytics, software, scientific research and deep industry
knowledge, Verisk helps build global resilience for individuals,
communities and businesses. With teams across more than 20
countries, Verisk consistently earns certification by Great
Place to Work and fosters an inclusive culture where all team
members feel they belong. For more, visit Verisk.com and the
Verisk Newsroom.
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