Stability Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD). The SIF is a network of insurance supervisors and regulators working together to share experience on sustainability challenges such as climate change. This statement represents the consensus view of the SIF, recognizing the diversity of perspectives among members and participants. Climate change is one of the most serious long-term challenges for the insurance sector and the wider financial system. In its role as risk manager, risk carrier and investor, the insurance sector plays a cornerstone role in the management of climate-related risks and opportunities. Clear, comparable and consistent climate related financial disclosure enable insurance firms to improve their management of physical and transition risks in their underwriting operations, as well as strengthen the consideration of climate-related factors in their investment decision-making. Effective climate disclosure by insurance firms is also important to enable investors, consumers and supervisors to have an informed view of the firm’s performance and prospects.