Since the 2020 Task Force on Climate-related Financial Disclosures survey1, the South African Prudential Authority (PA) has begun signaling its intent to integrate climate-related risk into its regulatory and supervisory mandate. In line with this, a guidance notice was released earlier in May 2024 on ‘climate-related governance and risk practices for insurers’. This guidance notice aims to illustrate approaches that should be considered in managing an insurer's climate-related governance and risks2 .
