TCFD Best Practices


Steve Bochanski, FSA, CERA, MAAA
Graham Hall, FIA
Hannah Clouser, ASA


The Society of Actuaries (SOA) Research Institute commissioned a study to understand how insurers are responding to the framework used for climate disclosure practices, attempting to identify current practice and best and emerging practice. Used by firms to ensure they manage climate risk appropriately, the framework from the Task Force on Climate-related Financial Disclosures (TCFD) focuses on disclosure of governance, risk management, strategy, and metrics.


TCFD Best Practices
TCFD Best Practices, Simplified Chinese Summary
TCFD Best Practices Tableau


Research Insights - Research Focus Edition, TCFD Best Practices.



The researchers’ deepest gratitude goes to those without whose efforts this project could not have come to fruition: the Project Oversight Group and others for their diligent work overseeing questionnaire development, analyzing and discussing respondent answers and reviewing and editing this report for accuracy and relevance; all insurers interviewed for their insights into how TCFD is being used at their organizations.

Project Oversight Group members:

Marc Altschull
Eric Berg
Timothy Cheng
Bronwyn Claire
Sam Gutterman
Priya Rohatgi
Max Rudolph

At the Society of Actuaries:

Rob Montgomery, ASA, MAAA, FLMI, Consultant – Research Project Manager
Dale Hall, FSA, MAAA, CERA, CFA – Managing Director of Research
Patrick Wiese, ASA – Lead Modeling Researcher

Participating Insurance Companies:

The Co-operators

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