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Investing for Resilience 

Environmental_risk_analysis.pngTraditional response to rising levels of risk – to re-price, withdraw or transfer exposure to others – will always remain a central feature of how insurance manages its risk pools. However, society will struggle to reduce the climate risk protection gap – the growing divide between total economic and insured losses – if the insurance industry’s response to climate change is limited to avoiding, rather than managing the risk. Managing societal resilience to climate change will therefore become more important as exposure intensifies.

In response, ClimateWise’s Societal Resilience Programme, of which this study is part, brings ClimateWise members together with a range of stakeholders to identify actionable solutions for how the insurance industry can support society’s transition to a zero carbon, climate-resilient economy. It explores this via the industry’s investment activities.

 

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Sustainable Shipment Letter of Credit: A financing solution to incentivise sustainable commodity trade

January 2014 – The first tangible result of the ‘Soft Commodities’ Compact has been produced. The BEI’s Sustainable Shipment Letter of Credit is a financing solution that can be used by banks to incentivise the international trade of sustainably produced commodities. The International Finance Corporation (IFC) has confirmed it will offer preferential terms for this type of shipment to its partner banks, offering the potential reductions in the cost of capital.

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ClimateWise Thought Leadership: A one in ten chance: As risk experts do insurers really communicate risk effectively?

July 2013 – Exploring how the perception of risk affects customer responses to climate risk. How risk is perceived is key to whether people take action to manage risk. Advertisers use insights from behavioural science all the time but it is not often considered when looking at responses to unexpected events.

ClimateWise Thought Leadership: A one in ten chance: As risk experts do insurers really communicate risk effectively? - Read More…

ClimateWise Thought Leadership: The role of insurers in strengthening business resilience to climate risk

February 2013 – Tokio Marine & Nichido Fire Insurance is Japan's leading general insurance company, established in 1879. In this ClimateWise Thought Leadership article Kunio Ishihara, Chairman of the Board, discusses the role of insurers in supply chain resilience, and where climate change poses particular threats to these supply chains across Asian markets.

ClimateWise Thought Leadership: The role of insurers in strengthening business resilience to climate risk - Read More…

The Future in Practice: The State of Sustainability Leadership

December 2012 – The State of Sustainability Leadership is the Cambridge Institute for Sustainability Leadership (CISL)’s annual collection of ideas and research into how business and policy leaders are tackling the challenges of the 21st century.

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An Options Approach to Unlocking Investment in Clean Energy

November 2012 – A group of six Banking Environment Initiative (BEI) banks and six energy companies argue in this paper that using traditional investment valuation models is not always the best approach for valuing clean energy investments.

An Options Approach to Unlocking Investment in Clean Energy - Read More…

ClimateWise Thought Leadership: The value of ecosystem resilience to insurers

June 2012 – In 1992 in Rio de Janeiro, Climate Change, Biodiversity and Environmental Degradation were put on the international agenda at the first Earth Summit. Twenty years later nobody can ignore that human development and economic growth rely on healthy and resilient ecosystems but all too often we do, perhaps because it is easier to compartmentalise issues and believe that someone else will deal with the complexity.

ClimateWise Thought Leadership: The value of ecosystem resilience to insurers - Read More…

Moving beyond the uncertainty of climate change risk

April 2012 – Inherent uncertainty means that every statement made in relation to climate change risk must be caveated, but that is not an excuse for inaction.

Moving beyond the uncertainty of climate change risk - Read More…

How do we protect growth in a world of ‘new normals’?

November 2011 – Last Friday the Nobel Prize-winning Intergovernmental Panel on Climate Change (IPCC) approved a new report on ‘Managing the Risks of Extreme Events and Disasters for Climate Change Adaptation’. This is compelling reading both for those interested in climate change science, and for those working everyday to protect future economic and social activity.

How do we protect growth in a world of ‘new normals’? - Read More…

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