Closing the Gap: The emerging global agenda of transition plans and the need for insurance-specific guidance

This inaugural report from the UNEP Forum on the Transition of Insurance to Net Zero (FIT) and is the first global guide on transition plans for insurance companies and articulates the triple role of the insurance sector as risk managers, risk carriers and investors in supporting a just transition to a resilient net-zero economy.

The report assesses the key characteristics of insurers' underwriting portfolios, across all lines of insurance, the insurance value chain and the insurance actors involved, which need to be taken into account in transition planning, along with interconnected climate-related sustainability issues to protect nature and biodiversity and prevent pollution through a circular economy.

The report also describes the existing typology of transition plans, the landscape of emerging policies and regulations relevant to transition plans, and the evolution of transition plan frameworks and guidance.