Challenge 1 : Emissions Accounting

Lloyd’s have collaborated with Moody’s Analytics to develop a solution that will help to quantify greenhouse gas (GHG) emissions across managing agents’ underwriting and investment portfolios.

By collaborating with Moody’s Analytics, Lloyd’s will benefit from their pioneering efforts to solve the challenges of global firmographic (financial and climate) data availability across public and private companies.

The collaboration will see Lloyd’s and Moody’s iterate and experiment with a solution over a 12-week period targeted at accurately assessing scope 3 emissions defined by the Greenhouse Gas Protocol’s 15th category, relating to underwriting and investments.

By using the Partnership for Carbon Accounting Financials (PCAF) standards as the starting point for measurement, this framework will help to guide clear disclosures for the Lloyd’s market that will align reporting to an industry standard.

By working through the Lloyd’s Lab, the emissions accounting solution will be tested in collaboration with the market – roles have been assigned to volunteered market participants allowing them to continuously feed into the strategic direction of the solution and future developments. Allowing the industry to respond collectively and feed into the viability and credibility of the solution.