Transition plans are a relatively new concept for regulated entities and supervisors alike. The United Nations Development Programme’s (UNDP) Sustainable Insurance Forum (SIF) undertook a survey where the supervisors shared their best practices and offered insights for the potential role they can play for insurers to embark on their climate transition journeys.

UNDP’s SIF report, ‘Supervisory Thinking on Insurance-Related Climate Transition Plans’ showcases the collected insights on supervisory perspectives regarding transition plans and the progress of transition plan development within their regulated entities. It investigates the potential roles that insurance supervisors can take on as insurers work towards decarbonization. Additionally, it examines the current regulatory landscape, considers the integration of transition plans into a broader risk management framework, highlights the challenges of developing guidance on transition plans, and identifies key components of credible transition plans, among other pertinent aspects