Brazil has become the world's first insurance market to commit to promoting dialogue on the recommendations of the Financial Stability Board's (FSB) Task Force on Climate-related Financial Disclosures (TCFD), following the signature of the Rio delcaration on climate risk transparency by the Brazilian insurance industry,
Friday, May 25, 2018
including the Brazilian Insurance Confederation (CNseg) and the Brazilian Superintendence of Private Insurance (SUSEP), and received by UN Environment's Priciples for Sustainable Insurance Initiative (UNEP-PSI).
The Rio declaration was signed on 15 May at the "Shaping the sustainable insurance agenda in Latin America" event convened by the PSI and CNseg, with the support of SUSEP.
The breakthrough coincides with the news that Brazilian microinsurance premiums grew by 48.8% - well-above market average - in Q1 2018, according to official data from SUSEP. (in Portuguese)