Intact joins world’s insurers in pilot UNEP FI taskforce to assess intensifying climate change impacts

Natural infrastructure is fundamentally important to limiting the financial impact of climate change in coastal and inland environments: IBC, Intact Centre & IISD Report

Toronto, ON (Nov. 14, 2018) – To better protect communities and economies, and aligned with its core value of being socially responsible, Intact Financial Corporation has announced it will be part of the United Nations Environment Programme Finance Initiative (UNEP FI) Task Force on Climate-related Financial Disclosures (TCFD) pilot.

The pilot brings together 16 of the world’s largest insurers to better understand the impacts of climate change on their business – integral for the insurance industry in their role as risk managers.

In addition, Intact signed on to the UNEP FI Principles for Sustainable Insurance (PSI). The PSI is a global best-practice sustainability framework for the insurance industry to address environmental, social and governance (ESG) risks.

“Climate change is one of the most pressing public policy issues facing Canada and the world for the foreseeable future,” says Charles Brindamour, Chief Executive Officer of Intact Financial Corporation. “Being part of the TCFD insurer pilot will help us evaluate the impacts of climate change in a more standardized and transparent way – to help us build a stronger, more prosperous and resilient society.”

About Intact Financial Corporation

Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in Canada and a leading provider of specialty insurance in North America, with close to $10 billion in total annual premiums. The Company has over 13,000 full- and part-time employees who serve more than five million personal, business, public sector and institutional clients through offices in Canada and the U.S. In Canada, Intact distributes insurance under the Intact Insurance brand through a wide network of brokers, including its wholly-owned subsidiary BrokerLink, and directly to consumers through belairdirect. In the U.S., OneBeacon Insurance Group, a wholly-owned subsidiary, provides specialty insurance products through independent agencies, brokers, wholesalers and managing general agencies. For more information, visit www.intactcf.com.

Intact Insurance is Canada’s largest home, auto and business insurance company, the choice of more than four million consumers. Its coast-to-coast presence and its strong relationship with insurance brokers mean the company can provide the outstanding service, comfort and continuity customers deserve. Intact Insurance is a member company of Intact Financial Corporation. For more information, visit www.intact.ca.

The Intact Centre for Climate Adaptation (ICCA) was developed after five years of research and discussions with the University of Waterloo. The ICCA is a national applied research centre focused on bringing practical and cost-effective solutions to address climate change and extreme weather events. Every Canadian has felt the effects of climate change in recent years. The ICCA serves as an incubator to promote new ideas on how we, as a country, can adapt to the ever-changing weather.

SOURCE: Intact Financial Corporation

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