In 2021, Beazley participated in the Bank of England’s Climate Biennial Exploratory Scenario (or CBES) stress test, which assessed our physical risk, transition risk, and liability risk.
Following this exercise, a series of projects and activities were identified to enable us to keep developing our climate risk assessment approach, and, in June 2022: the Climate Risk Working Group was established to oversee and track projects and activities which has allowed us to achieve the following:
Further information on our approach to climate related risk matters can be found within our TCFD disclosures.