As regulations related to adaptation and resilience disclosures continue to evolve globally, it is important for Ipieca members and external stakeholders to stay informed about the latest advancements in estimating the financial impacts of climate change. This includes distinguishing between physical and transition risks, scenario analysis, modelling approaches, and economic evaluation tools as well as discussing and understanding the key challenges involved.
The purpose of the workshop was to:
- Build an understanding around the importance of and latest developments for estimating the financial impacts of climate change
- Highlight the insurance industry’s perspective on companies’ financial impacts assessments of climate change
- Explore approaches, methodologies and challenges related to estimating the financial impacts of climate change
- Review a member case study from Shell – ‘An approach to developing guidance on climate adaptation’
- Identify future work for the task force and Ipieca
