United States' Ceres analysis finds none of 45 insurance groups disclose emissions targets needed to track climate commitments

Ceres published an analysis of climate risk reporting in the US insurance sector, benchmarking disclosures against the Task Force on Climate-related Financial Disclosures (TCFD) framework, and found a mismatch between insurers’ climate commitments and their ability to measure and track progress. Among 45 insurance groups that provided information across all climate risk disclosure categories, none disclosed the emissions targets needed to track progress toward their climate commitments, despite 87% reporting comprehensive climate targets. The report highlights limited adoption of emissions-target reporting, a near-complete absence of disclosures on indirect greenhouse gas emissions, and weak monitoring of progress against stated climate goals. It also finds that while insurers have adopted technologies for scenario analysis, these capabilities are not being used for basic measurement needs such as portfolio exposure to physical climate risks, tracking financial impacts from climate-related claims, or measuring the effectiveness of adaptation investments; the analysis references a projected 5% increase in the global protection gap to USD 1.86 trillion in 2025. The Measurement Gap is positioned as a companion to Ceres’ broader 2025 analysis of climate disclosures from 526 insurance groups representing over 1,700 companies, structured around the TCFD pillars of governance, strategy, risk management, and metrics and targets.