![]() ![]() Their report is relatively heavier on general macro policy discussions on climate risk. Steps to map strategy into concrete measurable goals of the kind articulated by AXA are qualitatively discussed in Liberty’s report but specifics, especially numbers, are usually missing. Liberty’s 2021 TCFD report, at 31 pages, is not as granular as AXA’s. Liberty’s strategy is predicated on (i) investing in education, expertise and capacity building (ii) integrating climate-related risk management services and product offerings into their core business (iii) advancing the energy transition (iv) helping customers build resilience for climate-related risks through innovation and (v) advocating for climate resilience and adaptation. Chubb covers many of the standard points, but I do not see many numerical estimates to back up or quantify their statements, except perhaps for GHG emissions and for catastrophe losses discussed later. In its first TCFD report (24 pages), Chubb’s climate strategy hinges on five promises: (i) achieve carbon neutrality in its own global operations (Scope 1 and Scope 2 emissions) by year-end 2022 (ii) develop and offer new insurance solutions for low–and zero-emission technologies (iii) seek to encourage the transition through its decisions on specific underwriting and investment risks (iv) assess coverage of carbon–intensive industries and their related strategies and plans for transitioning to a lower–carbon economy and (v) adopted the TCFD framework.
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