How Can ESG Policy and Regulation Unlock Opportunities for Insurers?
Date:
Wednesday, June 16, 2021
Location
On-Demand
Duration:
60 minutes
Globally, regulators and policymakers are increasingly engaging with Environmental, Social and Governance (ESG) risks and opportunities. These conversations and regulations can offer value to future-proof the global insurance industry irrespective of jurisdiction.
As long-term custodians of assets, insurers are experiencing a great deal of change, and are under pressure to address the impact of ESG risks on both sides of the balance sheet. Governments and regulators are explicitly focusing their attention on ESG risks – including climate change – that pose a grave issue for insurers.
Join this upcoming webinar as our panel of experts discuss the regulator’s role in driving ESG integration and disclosure that could lead to long-term financial value in insurance portfolios.
Topics will include:
Building a sustainable future and expectations for the market
Regulation as a catalyst for accelerated innovation
Four Pillars of Regulatory Focus (Risk Management, Governance, Scenario Analysis, Disclosure)
Regulatory trends on ESG issues and its impact on the insurance industry
Practical applications and lessons from Europe and the Americas
Matthieu BardoutGlobal Head of ESG Strategy, Banking & Insurance, S&P Global Sustainable1
Matthieu is an expert in sustainable finance with an international track record advising financial institutions, corporates and public organizations. Full Bio
Matthieu is an expert in sustainable finance with an international track record advising financial institutions, corporates and government organizations. At S&P Global Sustainable 1, he leads ESG strategy for banking and insurance segments. In that role, he interfaces between S&P Global’s clients, commercial and product teams to implement pioneering ESG and climate strategies.
Prior to joining S&P Global, Matthieu launched a commercial spinoff for the 2 Degrees Investing Initiative to provide asset-level data for climate-related financial analysis. Previously he worked for Circle Economy where he led a program on circular finance, for Ecofys (now part of Guidehouse consulting) where he specialized in climate policy, and for Coffey Geotechnics as an engineering geophysicist.
Matthieu holds Master’s degrees in Sustainable Development from Utrecht University and Geophysics from Imperial College London. Minimize
Speakers
S&P Global Contributor
Butch BacaniProgram Leader, UNEP Principles for Sustainable Insurance
Butch Bacani leads UN Environment Programme’s (UNEP) Principles for Sustainable Insurance Initiative (PSI), the largest collaboration between the UN and the insurance industry. Full Bio
Butch Bacani leads UN Environment Programme’s (UNEP) Principles for Sustainable Insurance Initiative (PSI), the largest collaboration between the UN and the insurance industry. Butch leads activities supporting the UN Sustainable Development Goals, Paris Agreement on Climate Change, and the Financial Stability Board’s climate risk disclosure recommendations (TCFD).
Butch led the global process that created the PSI in 2012, and UNEP’s insurance and investment programmes from 2006 to 2010, including activities with the UN-supported Principles for Responsible Investment Initiative (PRI). He has shaped global insurance industry initiatives to address climate change, disaster risks, tobacco risks, illegal fishing, and plastic pollution; and to protect UNESCO World Heritage Sites. Butch has authored pioneering studies on sustainable insurance and responsible investment. Previously, he was in the insurance industry for over a decade, working with leading insurers and reinsurers worldwide. Minimize
S&P Global Contributor
Yvonne BraunDirector of Policy, Long Term Savings and Protection, Association of British Insurers
A member of the Association of British Insurers (ABI) Executive Team, Yvonne directs the ABI’s work on pensions, social care and protection insurance, and oversees the finance department and data analysis team. Full Bio
A member of the Association of British Insurers (ABI) Executive Team, Yvonne directs the ABI’s work on pensions, social care and protection insurance, and oversees the finance department and data analysis team. She leads the ABI’s diversity and inclusion programme, and the sector’s £100m Covid-19 Support Fund. Yvonne joined the ABI from the Financial Services Authority, where she worked in policy and public affairs. She previously was a capital markets lawyer at Goldman Sachs and the US law firm Cleary Gottlieb. Yvonne is a member of the Government’s Industry Steering Group for the Pensions Dashboard Project, and the City of London Corporation’s Taskforce to improve socio-economic diversity at senior levels in financial and professional services. She is a Fellow of the Royal Society of Arts and a former trustee of Asthma UK, a graduate of Cambridge University, and holds a doctorate in international criminal law. Minimize
S&P Global Contributor
Steven BullockManaging Director, Global Head of ESG Innovation and Solutions, S&P Global Sustainable1
Steven Bullock leads the ESG Innovation and Solutions Team at S&P Global Sustainable1. Full Bio
Steven Bullock leads the ESG Innovation and Solutions Team at S&P Global Sustainable1. As head of this group, Steve has successfully led the development of Trucost's suite of climate and impact analytics products, including Carbon Earnings at Risk, Paris Alignment, Physical Risk and SDG Analytics. Steve has played a leading role on the world’s first public environmental profit and loss “EP&L” account for PUMA and supported GPIF, the world's largest asset owner, on their inaugural TCFD-aligned reporting.
Steve has also contributed to the technical development of the S&P Global Ratings Green Evaluation Tool and the recent S&P Paris-Aligned & Climate Transition (PACT) Indices.
Prior to joining S&P Global Trucost back in 2008, Steve worked as an analyst for a performance management consultancy. He holds a BA 1:1 with honors in Geography and a MSc with Distinction in Sustainable Development from the University of Exeter.
Nina ChenExecutive Deputy Superintendent, Climate Division, New York State Department of Financial Services
Dr. Yue (Nina) Chen is the inaugural Executive Deputy Superintendent of Climate Risk Division at the New York State Department of Financial Services (DFS). Full Bio
Dr. Yue (Nina) Chen is the inaugural Executive Deputy Superintendent of Climate Risk Division at the New York State Department of Financial Services (DFS). The division is charged with integrating the financial risks from climate change into DFS’s supervision of regulated entities; supporting the industry’s growth in managing climate risks; coordinating with international, national, and state regulators; developing internal capacity on climate-related financial risks; supporting the capacity-building of peer regulators on climate-related supervision, and ensuring fair access to financial services for all communities, especially those most impacted by climate change. Nina was appointed as the inaugural Director of Sustainability and Climate Initiatives in May 2020. Under Nina’s leadership, DFS became the first U.S. financial regulator to establish a holistic set of expectations for banks and insurers to integrate the financial risks from climate change into corporate governance, business strategies, risk management, and disclosure. Nina also serves as the Vice-Chair of the Climate Risk Steering Group at the International Association of Insurance Supervisors.
Before joining DFS, Nina was the Nature Conservancy’s Director of Conservation Investments in New Jersey then New York. In this role she developed innovative conservation finance programs, advised cities on attracting private capital to accelerate and scale up conservation impacts, and led urban water resilience initiatives.
Nina started her career in finance which spanned a wide range of areas, including sovereign bonds, interest rates derivatives, mortgages, and structured credit products at Goldman Sachs and Royal Bank of Canada, among others.
Nina received her B.S. in Chemical Engineering from Tsinghua University, Beijing, China, her Ph.D. in Chemical Engineering from the Massachusetts Institute of Technology, and a Certificate in Conservation and Environmental Sustainability from Columbia University.
Dave JonesInsurance Commissioner, Emeritus | Director, Climate Risk Initiative, UC Berkeley School of Law, Center for Law, Energy & the Environment
Dave Jones is the Director of the Climate Risk Initiative at UC Berkeley School of Law’s Center on Law, Energy and Environment (CLEE). Full Bio
Dave Jones is the Director of the Climate Risk Initiative at UC Berkeley School of Law’s Center on Law, Energy and Environment (CLEE). Jones is also Senior Director for Environmental Risk at The Nature Conservancy. Jones served as California’s Insurance Commissioner from 2011 through 2018 and regulated the largest insurance market in the United States. He founded and chaired the Sustainable Insurance Forum (SIF), an international network of insurance regulators developing climate risk regulatory best practices. Jones was the first US financial regulator to require disclosure of investments in fossil fuel assets due to concerns about climate change related transition risk and the first to conduct climate risk scenario analysis of insurers’ investment portfolios. Jones was a contributor to the Commodity Futures Trading Commission’s (CFTC) report: “Managing Climate Risk in the US Financial System.” Jones is a graduate of DePauw University and earned a J.D. from Harvard Law School and a Master’s in Public Policy (MPP) degree from Harvard’s Kennedy School of Government. Minimize
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