Ceres and California Department of Insurance Recognized as the Climate and Sustainability Team of the Year

BOSTON – Ceres and the California Department of Insurance today were honored with the Climate and Sustainability Collaboration of the Year award by InsuranceERM, recognizing their partnership with the Global Sustainable Insurance Summit.  

The award honors teams that have pioneered innovative strategies, influenced critical policy debates, and demonstrated long-term commitment to addressing climate challenges in the insurance sector. 

Under the leadership of California Insurance Commissioner Ricardo Lara and Ceres Chief Program Officer Steven Rothstein, the Global Sustainable Insurance Summit (GSIS) has become a leading and comprehensive dialogue platform for climate insurance and other relevant topics. Now in its second year, GSIS convenes more than 50 international stakeholders, including insurance commissioners from more than a dozen states and insurance supervisors from six continents, along with government, academic, and nonprofit leaders.  

"Ceres is honored to win this prestigious award. This recognition reflects the power of partnership in tackling big challenges,” said Jaclyn de Medicci Bruneau, Insurance Director for the Ceres Accelerator for Sustainable Capital Markets at Ceres. "Together, we’ve been able to advance meaningful policies in California while providing the research and tools needed to help the insurance sector adapt to extreme weather and build a more resilient and equitable insurance system." 

"The increasing physical and financial risks of our changing climate demand innovative solutions," said Insurance Commissioner Ricardo Lara. "This award recognizes our administration's bold approach to modernizing insurance regulations. Through our partnership with Ceres and other stakeholders, we're pioneering solutions that protect consumers, stabilize markets, and ensure that insurance remains available and affordable even as climate risks intensify.” 

The Global Sustainable Insurance Summit has become a global laboratory for climate insurance innovation. Most recently, California passed a law to promote incentive-based rates, a win-win for insurance companies and homeowners. This legislation was inspired by a similar program in Alabama which California insurance leaders learned about at the Summit. In addition, flood protection strategies developed in Asia are being adapted for U.S. markets, while California's wildfire resilience approaches inform European insurance strategies. The partnership facilitated development of TCFD-aligned climate disclosure frameworks now used by over 1700 insurers nationwide and created open-source climate risk tools accessible to smaller insurers and emerging markets.  

WATCH: Recordings of the 2024 and 2025 Global Sustainable Insurance Summit are available to watch here.  

About Ceres  

Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and resilient economy. With data-driven research and expert analysis, we inspire investors and companies to act on the world's sustainability challenges and advocate for market and policy solutions. Together, our efforts transform industries, unlock new business opportunities, and foster innovation and job growth – proving that sustainability is the bottom line. For more information, visit ceres.org. 

About the California Department of Insurance 

Led by Insurance Commissioner Ricardo Lara, the California Department of Insurance is the consumer protection agency for the nation's largest insurance marketplace and safeguards all of the state’s consumers by fairly regulating the insurance industry. Under the Commissioner’s direction, the Department uses its authority to protect Californians from insurance rates that are excessive, inadequate, or unfairly discriminatory, oversee insurer solvency to pay claims, set standards for agents and broker licensing, perform market conduct reviews of insurance companies, resolve consumer complaints, and investigate and prosecute insurance fraud. Consumers are urged to call 1-800-927-4357 with any questions or contact us at www.insurance.ca.gov via webform or online chat.