RESEARCH REPORT on Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) and National Association of Insurance Commissioners (NAIC) Climate Risk Disclosure Survey Responses Compared Qualitatively and Quantitatively: Eight Companies in 2019—Twenty-four Companies in 2020

Climate Related Financial Disclosures Work Group report submitted to the NAIC’s Climate and Resiliency (EX) Task Force. This accompanies a comment letter from the Academy’s Climate Change Joint Task Force that addresses an exposed proposal by the NAIC for a new climate disclosure, based on the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) guideline and includes a series of observations and three specific suggestions. The report and associated comment letter to the NAIC are based upon research conducted by the Academy’s Climate-related Financial Disclosures Work Group.