Lloyd’s has launched a consultation on its roadmap for insuring the transition. The consultation sets out Lloyd’s proposed approach for the next three years across all areas of sustainability for the market, including underwriting, investments, exposure management and capital and reserving.
The roadmap has been designed to support market participants in evolving and embedding their own sustainability strategies, including navigating evolving regulatory reporting requirements.
The document sets out planned oversight processes and regulatory expectations on climate-related risk management, capital and reserving as well as transition planning. It seeks to provide short-term actionable steps that can be taken, focusing on the areas that matter.
Acknowledging that effectively planning and executing on transition plans is one of the greatest challenges businesses will face in the coming years, the details provided in the consultation can be used by brokers in their discussions with clients, as well as managing agents formulating their own transition plans, as and when is appropriate for each business.
Download Insuring the transition roadmap
Sustainability@lloyds.com