Verisk Analytics Inc

Verisk's governance framework includes a Board of Directors and Board-level committees responsible for the evaluation of major financial and operational risks to the enterprise and oversight of the Company's ESG strategy, including public disclosures. The Chief Executive Officer and senior leadership team set strategic priorities to mitigate risk, capitalize on opportunities, and promote resource stewardship. [...] Table 1: Description of climate governance roles and responsibilities |Board of Directors|• Meets quarterly and as necessary to review major financial and operational risks to the enterprise and as part of a corporate-wide annual risk survey addressing all risks to the enterprise, including climate-related risks. • Actively monitors internal operational strategies, including those related to the security of data, vulnerabilities associated with office and work environments, and the safety of employees. • Engages management on business strategies, which include quantifying investments that help customers address risks associated with climate- and weather-related events.| |Governance, Corporate Sustainability, and Nominating Committee|• Meets semi-annually and as necessary to evaluate the Company's key ESG risks and opportunities, including its climate strategy, and provides oversight of the Company's public disclosures and shareholder engagement concerning sustainability matters. • Assists the Board by overseeing the Company's corporate sustainability program.| |Audit Committee of the Board|• Conducts a quarterly review of the full risk dashboard, including climate-related risks, that follows from the Company's annual risk survey. • Reviews Verisk's annual greenhouse gas emissions inventory, including progress against emission reduction targets.| |Chief Executive Officer (CEO)|• Sets Verisk's operational agenda for addressing stakeholder expectations associated with climate change. • Champions critical investments and resource allocations required to address strategic climate-related risks and opportunities. • Promotes responsible environmental stewardship, including measuring and disclosing carbon-related emissions against specified emission reduction targets.| |Senior Vice President (SVP), Enterprise Risk Management|• Leads Verisk's annual Risk Survey, which identifies the Company's most significant internal and external risks in terms of likelihood and potential impact. • Provides regular updates to the Board on the status of mission-critical risks.| |Chief Sustainability Officer (CSO)|• Provides leadership in aligning corporate priorities with the sustainability expectations of stakeholders. • Leads the company's annual emissions inventory, climate reporting, and progress against the Company's climate strategy. • Communicates Verisk's ESG stewardship commitments and progress to internal and external audiences.| |Business Unit Presidents|• Assess climate-related risks and opportunities within the parameters of their respective operations. • Collaborate with senior leadership to address risk and pursue climate-related business opportunities, including acquisitions, investments in new and existing products, and consideration of new markets.| [...] Verisk's Board meets annually with business unit leaders who present their strategies, which include quantifying investments to help clients address climate- and weather-related challenges. [...] Verisk's Chief Executive Officer (CEO), who serves on the Board, is the individual ultimately responsible for assessing and managing climate-related activities on behalf of the organization. Working with various members of the management team, the CEO sets operational priorities and assesses climate-related business opportunities, including acquisitions and divestments. The CEO also champions critical investments to mitigate the consequences of physical and transition risk, such as those investments leading to Verisk's ISO 27001 certification or the purchase of renewable energy certificates.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Verisk's Statement on Climate Change, https://www.verisk.com/siteassets/media/corporate-social-responsibility/downloads/verisk-climate-change-statement-2022.pdf, adopted by the Board of Directors, provides a high-level governance framework for Verisk's internal and external climate-related activities. The Statement emphasizes the urgency of the climate crisis, commits the Company to reducing its Scope 1 and 2 greenhouse gas emissions in accordance with a 1.5°C future, and describes explicitly the five categories where Verisk is committed to focusing its efforts and resources. The categories include Understanding and Managing (Climate) Risk, Promoting Resilience, Contributing to the Energy Transition, Finding Innovative Solutions to Environmental Challenges, and Publishing Thoughtful Research and Commentary.

The commitment is supported by regularly-scheduled quarterly strategy sessions between corporate and business unit leadership, which explore current and future initiatives in support of the company's commitments; the company's annual budget submission and approval process, which includes a review of major business initiatives; and Verisk's Public Relations Policy, which prohibits employees from responding to media inquiries or reaching out to members of the media without first receiving approval of the Public Relations team. Business unit leaders are responsible for ensuring compliance.

Describe the process(es) your organization has in place to ensure that your external engagement activities are consistent with your climate commitments and/or climate transition plan?[…]Verisk's Statement on Climate Change, adopted by the Board of Directors, provides a high-level governance framework for Verisk's internal and external climate-related activities. The Statement emphasizes the urgency of the climate crisis, commits the Company to reducing its Scope 1 and 2 greenhouse gas emissions in accordance with a 1.5°C future, and describes explicitly the five categories where Verisk is committed to focusing its efforts and resources. The categories include Understanding and Managing (Climate) Risk, Promoting Resilience, Contributing to the Energy Transition, Finding Innovative Solutions to Environmental Challenges, and Publishing Thoughtful Research and Commentary. (With the divestment of Verisk's energy business, Wood Mackenzie, the Statement will be amended in part to delete any reference to Wood Mackenzie's activities under the category "Contributing to the Energy Transition.")

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes