This document provides a summary of the discussions at the Insurance workshop on January 16th 2023 for the project: “Learning from the 2021/22 Climate Biennial Exploratory Scenario (CBES) Exercise”. It should be read alongside the survey report and the recommendations report.
The workshop was facilitated by the UK Centre for Greening Finance and Investment (CGFI) in collaboration with the Climate Financial Risk Forum (CFRF) and hosted by the Association of British Insurers.
All insurer CBES participants were invited to attend (both general insurers and life insurers). The goal of the workshop was to gain feedback on the draft survey findings and recommendations. In particular, it aimed to validate the findings of the survey and ensure the interpretation provided in the survey report was correct. A further goal was to test and augment the recommendations developed by CGFI based on the survey.
About the Project
The UK Centre for Greening Finance and Investment (UKCGFI) and partners worked together to gather and synthesise the lessons from the process of the Bank of England’s Climate Biennial Exploratory Scenario (CBES) through a series of surveys and interviews with appropriate individuals involved in the process from the CBES participating firms, with validation through workshops in 2023.