IAIS joins the Network for Greening the Financial System (NGFS) as an observer
The International Association of Insurance Supervisors (IAIS) has joined the Network for Greening the Financial System (NGFS) as an observer.
The NGFS is a group of central banks and financial sector supervisors established in December 2017 to help strengthen the global response to the Paris Agreement on climate change. Made up of 42 members and 8 observers (including the IAIS), the NGFS defines and promotes best practices in climate risk management for the financial sector and conducts or commissions analytical work on green finance.
Victoria Saporta, Chair of the IAIS Executive Committee: “The importance of climate-related risks for supervisors is increasingly clear, particularly for insurance supervisors. Joining this network will support the IAIS’ efforts to equip our Member supervisors to better understand and respond to climate-related risks for the insurance sector and allow us to share insights from our own work on this important topic with other NGFS members and observers.”
The NGFS press release can be found here.