DB schemes urged to scrutinise insurers’ TCFD reports

DB pension scheme trustees are being urged to scratch beneath the surface of insurers’ Taskforce on Climate-Related Financial Disclosures reports, when selecting a firm for risk transfer.

Pensions and financial services consultancy, Hymans Robertson, warns that while many schemes might be encouraged by insurers’ headline targets and commitments, understanding which firm is a good fit for their needs, will come from the ability to critically understand and assess the data in each TCFD report.

Paul Hewitson, head of ESG for risk transfer at Hymans Robertson, said that, for DB schemes that are “on a journey to buy-out” but are also looking address climate risks, the devil is in the detail.

“Schemes could be forgiven for relying on the bolder statements in insurers’ TCFD reports. However, to really make an informed choice and choose a match that’s right for them, they should make sure they compare both how each insurer plans to transition their assets to meet targets, with the insurers’ actual progress.”

    Share Story:

YOU MIGHT ALSO LIKE


Cyber risk in the transportation industry
The connected nature of the transport and logistics industries makes them an attractive target for hackers, with potentially disruptive and costly consequences. Between June 2020 and June 2021, the transportation industry saw an 186% increase in weekly ransomware attacks. At the same time, regulations and cyber security standards are lacking – creating weak postures across the board. This podcast explores the key risks. Published April 2022.

Political risk: A fresh perspective
CIR’s editor, Deborah Ritchie speaks with head of PCS at Verisk, Tom Johansmeyer about the confluence of political, nat cat and pandemic risks in a world that is becoming an increasingly risky place in which to do business. Published February 2022.