The SIF is now advancing a six-track work programme, focusing on:
- Disclosure. The SIF delivered a formal response to the public consultation on the Recommendations of the Financial Stability Board Task Force on Climate-Related Financial Disclosures in February 2017, and released a joint statement welcoming the final recommendations and guidance of the TCFD in July 2017 – highlighting key areas where supervisors play a role in supporting uptake by the insurance sector.
- Links between Insurance Access, Affordability and Environmental Risk. The SIF is working to examine how environmental issues may affect related challenges of insurance access and affordability, focusing on developing and emerging market economies.
- Sustainable Insurance Roadmaps: The SIF is supporting strategic processes to build sustainable insurance markets through country-level engagement and knowledge sharing, starting with Morocco.
- Climate Risks: The SIF is facilitating knowledge sharing on methodologies and approaches to assessing climate-related risks to insurance firms, including portfolio risk assessment, scenario analysis and stress testing.
- Disaster Risk Reduction: The SIF is working to leveraging the knowledge, expertise, and capacities of insurance supervisors to reduce exposure to disaster risk and build resilience, including engagement within the insurance sector and with public authorities on land use and planning decisions.
- Capacity Building for Supervisors: The SIF will work to develop capacity building tools for supervisors on sustainable insurance issues, including a review of existing supervisory toolkits, the development of training materials, and outreach.