This report focuses on the risk manager and insurer roles of the insurance industry. Over the past year, 22 leading insurers and reinsurers have collaborated under the auspices of UN Environment Programme’s (UNEP) Principles for Sustainable Insurance Initiative (PSI) to pilot methodologies that insurers can use to implement the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD).3 This study on insurance follows the TCFD studies done by UNEP’s Finance Initiative on banking and investment.