Climate change transition risks
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FCA’s sustainability disclosure requirements – considerations for insurers
Following the closing date for submissions to the FCA CP22/20 consultation on 25 January 2023, the FCA has attracted government scrutiny over their proposals for a UK regime for financial services Sustainability Disclosure Requirements.
Decarbonisation – new year, new rules
The SEC’s proposed rule on climate-related disclosures: Potential concerns for general liability carriers
While many articles have discussed the potential impact of the Security Exchange Commission’s (“SEC”) proposed rule on climate-related disclosures for companies, their management, and professional lines insurers with a focus on financial disclosures, there are also areas of concern for general liability insurers. The rule will essentially be the first time the SEC will require companies to formally report about climate change risks when they make public filings.
The proposed revision of the EU Construction Products Regulation (EU) NO 305/2011
The European Commission published a proposal to revise the EU Construction Products Regulation (EU) No 305/2011. In this article, we consider why the EU Construction Products Regulation is being revised, what the proposed key changes are, what this revision could mean for manufacturers and the next steps of the legislative process.
ESG shareholder activism on the rise?
On 15 March 2022, ClientEarth issued a pre-action letter of claim against the board of directors of Shell, arguing that their failure to properly prepare the company for net zero puts them in breach of their duties to the company. The threatened claim is premised on an unprecedented application of the provisions related to directors’ duties in the UK Companies Act 2006, and it is amongst the first climate-related claims to be threatened against a company in the UK.
Prefabrication and energy prices – a double-edged sword
Key to many of the government’s plans for the future infrastructure of the UK, is the use of prefabrication, particularly prefabricated concrete structures.
Climate disclosures: a global risk driver in financial lines
With mandatory climate disclosures becoming law in the UK, effective from 6 April 2022, and the United States Securities & Exchange Commission announcing its long awaited climate disclosure rule on 21 March 2022, this report provides a snapshot of the approach towards climate disclosures in some of the jurisdictions in which Kennedys operates, before focusing on what this means for our policyholder and insurer clients in the financial lines arena.
A risky business? The construction industry and the growing impact of climate change
From the wildfires sweeping across the United States, to the torrential rain and flooding which has devastated parts of Japan, never have we as a society been more aware of climate change. Here, we look at the impact of rising claims and the insurance industry's response in mitigating climate change risk.
Winter storms and heatwaves – how construction insurers should navigate climate risks
Construction projects are vulnerable to losses. In the UK alone, the increase in frequency and severity of winter storms, flooding, heatwaves or periods of extreme cold all result in additional claims. For those insuring international projects, a detailed understanding of the changing climate in that location is essential. So what can construction insurers do?
Oman sustainability: constructing a greener perspective?
This week (13-17 March 2022) has been designated in the Sultanate as ‘Oman Sustainability Week’. OSW is a national platform highlighting Oman’s commitment to sustainability leadership through innovative strategies aligned with the UN Sustainable Development Goals and to elevate Oman as a new model for sustainable development.