Under the TCFD’s(Task Force on Climate-related Financial Disclosure ) recommendations, companies are urged to disclose the actual and potential impacts of climate change on their business, as well as explain how they identify and manage such risks and opportunities.A move to make such disclosure mandatory in Britain is seen as a big step towards a new set of global standards.The ministry said it was backing a move by the IFRS Foundation, which writes global accounting rules, to develop international sustainability-related reporting standards.

Reputation of AstraZeneca’s COVID vaccine marred by missteps

Mar 23, 2021

US officials issued an unusual statement expressing concerns the company had included outdated information from its study and that it may have provided an incomplete view of the efficacy data.

A company spokesman said Tuesday it was looking into it.

Lloyd’s launches pioneering parametric earthquake insurance policy in New Zealand

Mar 23, 2021

The new product Bounce is designed to provide New Zealanders with affordable earthquake insurance and fast claims payments, to support customers’ needs following an earthquake and quickly cover immediate expenses incurred. It does this by tracking Peak Ground Velocity (PGV) which triggers payment at levels of 20 centimetres per second and above.

Danish Red Cross launches world’s first cat bond for volcanic eruptions

Mar 23, 2021

Sponsored by the Danish Red Cross with support from insurance group Howden Group Holdings, the cat bond catastrophe bond aims to transform the way disaster aid is activated and deployed by mobilizing humanitarian assistance from global capital markets.

The cat bond aims to raise up to $3 million from investors for aid in the aftermath of an eruption. Initial investors are three insurance linked securities (ILS) specialists, Plenum Investments, Schroder Investment Management and Solidum Partners.By using advanced modeling developed by Mitiga Solutions and blockchain technology developed by Replexus, the bond will raise humanitarian funds in advance, and allow aid to be released more quickly and effectively while offering uncorrelated returns for investors.

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