Toronto-based Intact Financial Corp. is joining a pilot program at the United Nations (UN) to assess the increasing impact of climate change, the property and casualty insurer announced Wednesday.
Intact is participating in a pilot program with 16 of the world’s largest insurance companies — the UN Environment Programme Finance Initiative (UNEP FI) Task Force on Climate-related Financial Disclosures (TCFD) pilot — that aims to develop a better understanding of the impacts of climate change on their businesses.
“Climate change is one of the most pressing public policy issues facing Canada and the world for the foreseeable future,” says Charles Brindamour, CEO of Intact, in a statement. “Being part of the TCFD insurer pilot will help us evaluate the impacts of climate change in a more standardized and transparent way — to help us build a stronger, more prosperous and resilient society.”
Intact also announced it has signed on to the UNEP FI’s principles for sustainable insurance, which is “a global best-practice sustainability framework for the insurance industry to address environmental, social and governance (ESG) risks.”