ClimateWise

ClimateWise brings together the insurance industry into a member network convened by The University of Cambridge Centre for Sustainable Leadership, which integrates sustainable leadership with world-leading research capability to address the impacts of climate change.

ClimateWise is uniquely placed to bring together business, government and academic expertise; it provides a collective voice for the industry, a forum to interact with other stakeholders and; and it enables the transition of the insurance industry through a defined set of Principles aligned to disclosure requirements.

Decisions and positions of the group do not represent the policies or positions of CISL or of the wider University of Cambridge.

Members

Areas of focus

Disclosure

ClimateWise members are required to annually disclose their firm’s response to climate change through the ClimateWise Principles framework. Member reports are independently assessed, scored and benchmarked as a means to track and incentivise progress year on year. A collective public review is published each year which serves to inform regulators and broader financial markets on the insurance industry’s response to climate change.

Research

ClimateWise undertakes impact-orientated, collaborative research to help insurers and the wider financial sector proactively respond to the risks and opportunities posed by climate change. Three core themes focus on the industry’s leadership, regulation and climate-risk.

Convening

ClimateWise membership is open to all (re)insurers, brokers, loss adjusters and other insurance industry service providers globally who are leaders, or aspire to play a leadership role, in supporting the insurance industry respond to the risks and opportunities of climate change.

The Insurance Advisory Council is comprised of C-suite executives from across ClimateWise’s membership base.

ClimateWise is an important initiative, assisting the insurance industry in its important role to build societal resilience. Insurers have unique insights into the risks that the world is facing and the ClimateWise Principles provide guidance to share this knowledge more broadly; so informing public policy and supporting the identification, understanding and management of climate risk. Through decisive action, insurance companies can facilitate the transition a low-carbon economy that is resilient to a changing climate, while reducing the climate risk protection gap.

Anna Sweeney, former Chair of the Sustainable Insurance Forum and Executive Director, Insurance, Bank of England