Ceres has published its 2026 Progress Report on Climate Risk Reporting in the U.S. Insurance Sector, finding that broader participation in standardized climate reporting has not translated into decision-useful disclosure. Based on 2024 submissions from 537 insurance groups to the National Association of Insurance Commissioners Climate Risk Disclosure Survey, the review found that 83.2% of insurers addressed all four pillars of the Task Force on Climate-related Financial Disclosures framework, but only 10.5% of the 77 datapoints assessed were rated fully met. For the first time, the analysis assessed disclosure quality across 77 datapoints over 2021 to 2024, focusing on specificity, quantification and accountability. Across all datapoints, 51.7% were rated not found and 37% partially met. Metrics and Targets was the weakest pillar, with 81.9% of datapoints rated not found, including limited disclosure of indirect emissions, internal carbon pricing and the share of assets exposed to material physical risk. Pillar-level quality scores were broadly unchanged over the four years, with Risk Management remaining the strongest area at 25.6% to 27.2% fully met and Metrics and Targets at 7.9% to 8.5%. The report found that 91% of carriers did not disclose indirect emissions and climate-linked executive compensation was rare. Six carriers achieved 50% to 57% of datapoints fully met, and Ceres added an interactive dashboard covering results by carrier, pillar, line of business, National Association of Insurance Commissioners zone and datapoint.
Ceres2026-05-20
Ceres report finds U.S. insurers still fall short on climate risk disclosure with only 10.5% of TCFD datapoints fully met
Ceres’ 2026 Progress Report on climate risk reporting in the U.S. insurance sector finds broader participation in standardized climate reporting has not produced decision-useful disclosure, with only 10.5% of 77 assessed Task Force on Climate-related Financial Disclosures datapoints fully met despite 83.2% of insurers addressing all four pillars. The review highlights persistent gaps in Metrics and Targets, including 81.9% of datapoints rated not found and 91% of carriers not disclosing indirect emissions, while Risk Management remains the strongest pillar and only six carriers fully met at least half the datapoints.