1810542_1477413 - Contracts for Climate Change Campaign_FV_…

1810542_1477413 - Contracts for Climate Change Campaign_FV_…

Contracts for Climate Change Summary of Insurance Clause (2)

Each of the precedents has a child’s name chosen by the drafting team. This is to encourage long-term thinking and to focus on the next generation as they will be most affected by the serious consequences if we fail to effectively respond to the climate crisis.

PREMIUM ADJUSTMENT FOR D&O CLIMATE-RELATED FINANCIAL DISCLOSURES — ARCHIE’S CLAUSE

#directorsandofficers #TCFD #climaterisk

Issue

There is an increasing pressure on directors to manage climate risks accompanied by a lack of adequate information for insurers to price such risks. Solution Archie’s Clause would incentivise companies to mitigate climate risk through a reduction in insurance premium for policyholders who meet agreed disclosure standards. Impact Policyholders would be financially incentivised to take action and improve internal climate risk reporting standards.