Upskilling a global reinsurer’s board for new climate regulation
A leading global reinsurer needed to comply with upcoming regulatory climate disclosure requirements. To demonstrate adherence to the Australian Accounting Standards Board (AASB) climate disclosure requirements, the organisation must not only comply but also ensure that their boards and management teams present a clear plan of action for regulatory engagement.
Baringa were brought on to enhance the board's knowledge and skills to ensure they are fully prepared to implement the necessary changes and fulfill their governance responsibilities in the evolving climate landscape.
Designing and delivering tailored skill-building sessions
We delivered customised skill-building sessions to board members across various jurisdictions, including the Group board, through concise one-hour sessions. These sessions were designed to equip board members with essential knowledge and skills to navigate the evolving climate landscape effectively.
The training covered key sustainability concepts, highlighting how climate regulations impact the organisation. It also addressed the evolving climate landscape, global pressures, policy, and regulatory expectations, and clarified governance duties for board members regarding climate risks and opportunities. Additionally, industry insights were provided through real-world examples and best practices to offer context and enhance understanding
Empowered for climate compliance and growth
The training equipped board members to oversee compliance with evolving climate-related financial disclosure regulations over multiple jurisdictions, such as AASB S2, TCFD, and ISSB and mitigated the risk of associated with non-compliance.
By educating the board on physical, transition, and liability risks related to climate change, the organisation strengthened their ability to identify climate-related risks and opportunities and build resilience against climate-related financial impacts. Enhanced climate literacy now positions the board to guide strategic decisions, assess investment opportunities, and support the organisation's sustainable growth ambitions.
A well-informed board builds trust with investors, customers, employees, and regulators by showing a strong commitment to climate action and transparency. The training also highlighted growth opportunities in the low-carbon economy, enhancing the Board's ability to manage climate-related risks and opportunities effectively.
Find out how we help our clients in Climate Change and Sustainability
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