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
(https://www.verisk.com/siteassets/media/corporate-social-
responsibility/downloads/verisk-climate-disclosure-report.pdf). To learn more
about Verisk's commitment to corporate social responsibility, click here
(https://www.verisk.com/csr/).
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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 (https://www.greatplacetowork.com/certified-company/1288593) and fosters
an inclusive culture (https://www.verisk.com/about/inclusion-diversity-
belonging/) where all team members feel they belong. For more, visit Verisk.com
(https://www.verisk.com/) and the Verisk Newsroom
(https://www.verisk.com/newsroom/).
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