Principle 6 - Support climate awareness amongst our customers/clients (continued) 6.2. Inform our customers and/or clients of climate-related risks and provide support and tools so that they can assess their own levels of risk. RenaissanceRe views climate change as a driver of secular change, causing a material impact on all (re) insurance industry participants. It is considered of strategic importance that the magnitude of this impact is recognized throughout the market, and as such sharing research, 15 award-winning Risk Leadership Mitigation Forums data, and tools is considered of the utmost importance. Bringing clients and brokers together with scientists and As a reinsurer, RenaissanceRe’s customers are public policy makers. Among a host of topics with global predominately insurance companies, and its role relevance, the result has been the sharing of research is limited to protecting the portfolios of risk that they and approaches to the management and mitigation of choose to underwrite. Where RenaissanceRe has the changing risk from natural disasters due to climate direct influence, however, is in choosing the cedants change. The Forums have been an opportunity for it wants to work with over time, considering the nature RenaissanceRe Risk Sciences to share its own research and risk of their insurance portfolios. RenaissanceRe as well as a chance to create an “environment of believes it can best achieve this through the active exchange” so participants can share ideas and capitalize assumption of risk, which promotes the liquidity and on insights generated at each event. RenaissanceRe’s capital necessary to enable the orderly transition of latest forum in September 2021 was focused on industries, businesses and society towards a lower- ‘Protecting Communities from Climate Change’ through in- carbon future. By working with its customers and depth, results-focused discussions exploring the science brokers to enhance their understanding of the risk behind climate change, what can be expected from of anthropogenic climate change, RenaissanceRe its impact over time, and actionable ways to safeguard can help them develop transition pathways as well as communities for the future. It included a tabletop exercise products that enable transition. Ultimately, some will using Portsmouth, Virginia as a case study to establish transition more successfully and faster than others, and real-world adaptive strategies and risk mitigation solutions RenaissanceRe’s goal is to support those that develop that can be applied to vulnerable communities around and consistently execute credible and measurable the globe. During 2022, RenaissanceRe’s credit team transition plans. will lead its 16th Risk Mitigation Leadership Forum, with topics including transition risk and the role of risk transfer, RenaissanceRe believes that direct engagement with financing of renewable energy, lower carbon construction its clients is at the heart of the underwriting role and in the housing market, the impact of ESG investment helping clients to understand its risk view - including mandates, and the role of environmental risks in prudential the impact of climate change - is a key element of frameworks for financial institutions. the relationship. RenaissanceRe has a dedicated resource, its Head of Climate & Sustainability Strategy, Co-Chair of the IDF’s RMSG who leads the group initiative to educate clients and RenaissanceRe is pursuing the broad adoption of open- potential partners on its climate change perspective; source modeling tools and open-source exposure data sharing research and insight with customers globally standards. In effect, use of these tools would allow not on a regular basis. RenaissanceRe believes it is well just the insurance industry and developed economies positioned to play a positive, stewardship role in the but also developing nations to take control of their risk industry by sharing its skills and expertise with each data. This groundbreaking technology will empower risk of its stakeholders to ultimately help the world better managers across commercial, sovereign, sub-sovereign, manage climate risk. RenaissanceRe also proactively and humanitarian entities to quantify and manage the engages with its shareholders to provide dedicated impact of climate change, with consideration of their own sessions on its ESG strategy, program and reporting, local geophysical and environmental circumstances. including dedicated meetings with its VP ESG Strategy and members of RenaissanceRe Risk Sciences. Supporter of the Insurance Institute for Business & RenaissanceRe’s entrepreneurial and collaborative Home Safety (IBHS) culture extends to its ESG approach, and a key value is During 2021, RenaissanceRe worked closely with the encouraging and facilitating collaboration to generate Working Group on Climate Adaptation sponsored by IBHS solutions to the complex risks that are impacting to develop the first Climate Change Adaptation Principles, society. Below are a few examples of RenaissanceRe’s which have been signed by representatives of the efforts to partner with others to both develop property insurance industry. Ultimately, this collaborative sustainable risk mitigation solutions, and provide effort will promote climate resilience through building code tools and support to its stakeholders to enhance their improvements and greater structural integrity. climate risk understanding: Page 23