BMA extends deadline for climate change consultation

The Bermuda Monetary Authority has extended the deadline for responses to its discussion paper on disclosure of climate change risks for commercial insurers. 

The discussion paper seeks industry input on a proposal for how insurers can publicly disclose their climate risk exposure, mitigation, and monitoring activities. The proposal is aligned with the Task Force on Climate-related Financial Disclosures (TCFD) framework.

The BMA had invited to respond to 18 questions posed within the Disclosure of Climate Change Risks for Commercial Insurers by this month. It has now extended the deadline to February 15, 2024. 

“This deadline extension recognises the overall importance of industry feedback, in guiding the BMA’s approach to public climate risk disclosure,” the BMA said.