Tool will evaluate businesses’ risks and opportunities based on 158 different ESG metrics
Specialty insurer Chaucer and rating agency Moody’s are collaborating to produce a data-driven Environmental, Social and Governance (ESG) ‘scorecard’. The aim is to elevate the way companies’ ESG credentials are assessed using robust propriety data and metrics.
Chaucer will use the scorecard to measure counterparties’ ESG performance using 158 different metrics in an effort to better evaluate businesses’ risks and opportunities at an in-depth level.
By delivering a calibrated output, driven by Moody’s ESG assessments coverage and double materiality methodology, the insurer will be able to derive its own ESG profile and help its counterparties understand their risk both from a stakeholder and an enterprise perspective.
John Fowle, CEO of Chaucer said: “It’s incredibly exciting to be working with Moody’s on what we believe will be a gamechanger for the (re)insurance industry.
This is a powerful tool that will not only help Chaucer, but all our clients and business partners transition to be more sustainable businesses.”
Stephen Tulenko, president of Moody’s Analytics, said the tool would “combine Chaucer’s expertise in underwriting and risk management with our ESG expertise and wider integrated risk modelling capabilities, recently enhanced by RMS, to help support more sustainable decision-making.”