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Cambridge Institute for Sustainability Leadership

ClimateWise

 


Representing a growing global network of leading insurance industry organisations, ClimateWise helps to align its members’ expertise to directly support society as it responds to the risks and opportunities of climate change.

ClimateWise, as part of the Centre for Sustainable Finance, is uniquely placed to bring together the insurance industry and related organisations with world class academic expertise and global sustainability leaders to collectively and innovatively tackle climate change. 

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

Areas of focus


Disclosure

ClimateWise members are required to annually disclose their firm’s response to climate change through the ClimateWise Principles framework (link). Member reports are independently assessed, scored and benchmarked as a means to track and incentivise progress year on year. A collective public review (link) 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 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, Chair of the Sustainable Insurance Forum and Executive Director, Insurance, Bank of England

 

Meet the team


Dr Bronwyn Claire

Dr Bronwyn Claire

Senior Programme Manager

Rachel Austin

Rachel Austin

Project Manager

Meng Lian Li

Meng-Lian (Lily) Li

Project Manager

Thom Marx

Thom Marx

Project Co-ordinator

 

Latest

Premiums 4 Good: redefining the role of insurance in society

17 February 2017

Australian insurer and member of the Lloyds market, QBE, recently launched a new initiative that attempts to realign the interests of its customers with its investment practices. If successful, it could represent a defining moment in the role of insurance in society.

The City Innovation Platform (CIP)

21 December 2016

About One of the major challenges facing the finance sector (investors and insurance) when underwriting emerging economy infrastructure projects, is that the industry only enters the project design process towards the end of the development cycle, even though it is exposed to the greatest degree of...

CIP AIRR pilot project, Dar es Salaam, Tanzania

21 December 2016

October 2016 – ClimateWise partners with Santam, Marsh, Sanlam, Munich Re, ICLEI, Global Infrastructure Basel and the UNEP FI PSI in an innovative collaborative model with the Dar es Salaam city leadership to manage the risks and opportunities associated with key public infrastructure projects.

ClimateWise launches two reports that warn of growing protection gap due to rising impact of climate risks

6 December 2016

7 December 2016 – ClimateWise, a global network of 29 insurance industry organisations which is convened by the University of Cambridge Institute for Sustainability Leadership, has warned of the urgent need to address the growing $100 billion annual climate risk 'protection gap' in two new reports; Investing for Resilience and the ClimateWise Principles Independent Review 2016.

Investing for resilience

1 December 2016

December 2016 – Investing for Resilience explores how the insurance industry can contribute to redirecting substantial flows of capital into resilience enhancing investments. This includes helping in the development of a resilience rating system.

Closing the protection gap: ClimateWise Principles Independent Review 2016

1 December 2016

December 2016 – The ClimateWise Principles Independent Review 2016 of the six ClimateWise Principles finds a second year of improved scores for members of the insurance industry leadership group. Members have demonstrated their ongoing support for the zero carbon, climate-resilient transition yet the report finds a need for the industry to do more within its investment activities.

Natural catastrophes and the protection gap

28 October 2016

Natural catastrophes and the protection gap Robert Muir-Wood is Chief Research Officer at RMS and a member of ClimateWise's working group 2 November 2016 Given the reported increase in the frequency of natural catastrophes, we should ask how much progress we are making in reducing the impacts of...

Climate change: Now’s the time to look outside, to take action within

13 September 2016

Climate change: Now’s the time to look outside, to take action within Tom Herbstein, Senior Programme Manager, ClimateWise, Cambridge Institute for Sustainability Leadership 14 September 2016 In September 2015 Mark Carney, the Governor of the Bank of England, gave a ground-breaking, and since much-...

Louisiana floods highlight the protection gap

1 September 2016

Louisiana floods highlight the protection gap Tom Herbstein, Senior Programme Manager, ClimateWise, Cambridge Institute for Sustainability Leadership 2 September 2016 The current Louisiana floods, with over 40,000 homes damaged, have been described by the Red Cross as the worst US disaster since...

New ClimateWise Insurance Advisory Council to engage global regulators on climate risk

31 May 2016

3 June 2016, supplemented 4 July 2016 – ClimateWise, the insurance industry leadership group facilitated by the Cambridge Institute for Sustainability Leadership announces members for its new ClimateWise Insurance Advisory Council.