Verisk Publishes 2023 Task Force on Climate-Related Financial Disclosures (TCFD) Report

JERSEY CITY, N.J., Jan. 11, 2024 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading global data analytics and technology provider, has published its first formal report prepared in accordance with the framework recommended by the Task Force on Climate-related Financial Disclosures (TCFD). While the company regularly discloses information on its climate strategy, the report incorporates analyses of physical risk, transition risk and carbon pricing for the first time.

"As a strategic partner to the global insurance industry, analyzing risks is one of the key components that drives our overall strategy and investments aimed at supporting our clients and building resilience for individuals, businesses and communities,” said Lee Shavel, Verisk president and CEO. "That same theme underlies our TCFD report. This report is more than an exercise in self-reflection. It signifies our continued commitment to sustainability, meaningful emissions reductions and climate-related and extreme event research that informs the solutions and services we provide to a diverse and growing client base.”

Verisk’s commitment to global resilience is evident in its risk assessment solutions, which include catastrophe models that can help insurers and reinsurers quantify potential risk, and ESG risk datasets that can help the world’s largest organizations effectively manage the challenges posed by climate change and energy transition. These same tools were used to review and validate the results of the independent assessment.

Highlights of the report include:
• A physical risk analysis that assessed exposure to climate-related hazards across the company’s operations.
• A transition risk analysis that considered the risk associated with a low-carbon economy and its impact across policy and legal, technology, market, and reputational categories.
• An evaluation of potential risks of carbon pricing using Net Zero 2050 and Divergent Net Zero scenarios.

Verisk’s 2023 TCFD report can be found here. To learn more about Verisk’s commitment to corporate social responsibility, click here.

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About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.