基于TCFD框架的我国保险业气候变化相关财务信息披露状况研究

A Study on the Climate Change-Related Financial Information Disclosure Status of China’s Insurance Industry Based on the TCFD Framework

摘要: 近年来，全球气候变化日益严重，极端天气事件频发，气候变化带来的风险已经成为全球关注的焦点。为了应对环境污染和气候变化，国际组织和各国央行等监管机构针对气候风险出台了相应文件加强监管。自2020年碳达峰、碳中和目标提出后，我国对于气候相关财务信息披露情况日益重视。保险业作为金融机构，是气候变化风险的敏感性行业，同时也是TCFD框架的主要应用行业之一，其作为气候信息披露的提供者和使用者，承担着更多责任与挑战。本文通过梳理制度背景，结合信息不对称理论和信号传递理论对保险业进行气候变化相关财务信息披露的动机进行理论分析，同时基于TCFD框架构建衡量气候变化相关财务信息披露质量的指标，对我国保险业2017~2023年的气候变化相关财务信息披露的现状进行分析，发现我国保险业的气候变化相关财务信息披露质量逐年上升，但仍存在披露不够细致、部分指标未披露的问题，以期为我国建立气候信息披露标准及框架、完善国内气候信息披露的监督和激励机制提供一定的借鉴和参考。

Abstract: In recent years, global climate change has been escalating in severity, with frequent occurrences of extreme weather events. The risks posed by climate change have emerged as a global focus. To counter environmental pollution and climate change, regulatory agencies such as international organizations and central banks of various countries have introduced corresponding documents to enhance supervision. Since the goals of carbon peaking and carbon neutrality were proposed in 2020, China has attached growing significance to the disclosure of climate-related financial information. The insurance industry, as a financial institution, is a sensitive sector to climate change risks and is also one of the main application industries of the TCFD framework. As both a provider and user of climate information, it shoulders more responsibilities and faces more challenges. This article conducts a theoretical analysis of the motivation for climate change-related financial information disclosure in the insurance industry by sorting out the institutional background and integrating the theories of information asymmetry and signal transmission. Simultaneously, based on the TCFD framework, an index is constructed to measure the quality of climate change-related financial information disclosure. The current status of climate change-related financial information disclosure in China’s insurance industry from 2017 to 2023 is analyzed. It has been discovered that the quality of climate change-related financial information disclosure in China’s insurance industry has been escalating year by year. However, issues such as insufficient detailed disclosure and the non-disclosure of some indicators still exist. This is expected to offer certain references and inspirations for establishing climate information disclosure standards and frameworks in China and improving the supervision and incentive mechanisms for domestic climate information disclosure.