Credit: Blue Planet Studio/Adobe Stock Insurers Can Use an ESG Program To Implement New York's New Climate Change Financial Risk Guidance
This article discusses how New York domestic insurers can use the ESG framework to develop effective policies and procedures to implement management changes consistent with the guidance ahead of the Aug. 15, 2022 deadline.
January 05, 2022 at 11:00 AM
8 minute read
On November 15, the New York Department of Financial Services (NYDFS) issued final guidance for New York domestic insurers on taking a comprehensive approach to identifying, managing and reporting climate change financial risk (Final Guidance). The Final Guidance described the distinctive nature of climate risk, emphasizing its far-reaching breath and magnitude and the inability to use the past as an accurate predictor of the climate future.
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