Decarbonisation and the Insurance Industry

Abstract

This paper maps out how the insurance industry can make a stronger contribution to the transition to a global net-zero economy at policyholder level. It explains the nature and purpose of insurance and how insurers themselves are exposed to the climate change-related risks. It is argued that the insurance industry must expand its traditional post-disaster reaction approach to a holistic and pro-active climate change risk mitigation approach with impact underwriting and investment, acting as enabler of net-zero changes at policyholder level.