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The Co-operators CFO signs on to support international recommendations to disclose climate-related risk

Nov 16, 2017
1:14pm

GUELPH, ON, Nov. 16, 2017 /CNW/ - Bruce West, chief financial officer of The Co-operators Group Limited, is among 34 leading international CFOs supporting financial disclosure of climate-related risks and opportunities.

Mr. West signed a CFO Statement of Support for the recommendations of the Financial Stability Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD), in collaboration with the Accounting for Sustainability Project (A4S).

As one of the founding members of the Canadian chapter of A4S's CFO Leadership Network, The Co-operators supports this public declaration of support for the recommendations of the TCFD, intended to lead to effective measurement and improved company resilience; informed decisions by investors; and better evaluation of risks and exposures by lenders, insurers and underwriters.

"The Co-operators is proud to join an international effort towards a more sustainable, resilient and low-carbon economy," says Bruce West, CFO of The Co-operators Group Limited. "Insurance and financial services industries and the Canadians who rely on them will continue to experience increased risk and challenges as the climate changes. By incorporating these recommended disclosures into our financial statements, we can better manage climate-related risks to protect the financial security and peace of mind of Canadians for generations to come."

About The Co-operators: 
The Co-operators Group Limited is a Canadian co-operative with more than $48 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products.

The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon Hewitt and Corporate Knights' Best 50 Corporate Citizens in Canada. For more information, visit www.cooperators.ca.

About Accounting for Sustainability 
Accounting for Sustainability (A4S) convenes senior leaders from across the finance world – in business, the capital markets, governments, regulators and education – to inspire action to drive a fundamental shift towards resilient business models and a sustainable economy.

Further details can be found at: 
www.accountingforsustainability.org/tcfd  
https://www.fsb-tcfd.org/

SOURCE The Co-operators

For further information: For media inquiries, please contact: Jon-Erik Lappano, The Co-operators, Phone: 519-824-4400 x 306631; Michelle Robichaud, The Co-operators, Phone: 519-824-4400 x 306645


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