A Sustainable Investment in Journalism

A sustainable business requires diverse revenue streams. ESG Investor now operates a subscription service as of Tuesday 14th May. To find out more please get in touch with our subscription team on subscriptions@esginvestor.net

Insurers Must Be Catalysts for Climate and Nature Action – WWF

A study conducted by NGO WWF and Deloitte Switzerland has highlighted how insurers’ underwriting activities are exacerbating climate change and nature loss rather than mitigating these dual crises. The report highlights various non-life underwriting sectors, such as liability insurance, marine and vehicle insurance, and property insurance. While some insurers have begun to incorporate environmental considerations into their strategies, the actions taken so far fall short of the necessary measures, it said. Thomas Vellacott, CEO of WWF Switzerland, said: “This summer, we witnessed devastating heatwaves and wildfires. Insurance companies and their clients are particularly affected by these events as they lead to greater payouts and entire regions become uninsurable. It’s high time insurers address these risks by aligning their underwriting business with global climate and biodiversity goals to protect what is of value for our future.The report recommends insurance companies commit to net zero greenhouse gas emissions by 2050, engaging with clients and brokers to promote sustainability, and excluding environmentally harmful activities from insurance policies. To support these efforts, policymakers and regulators are urged to align insurance regulations and policies with these recommendations as part of the transition toward a net zero, nature positive economy. Marcel Meyer, Head of Sustainability at Deloitte Switzerland, said: “With their reach across all industries, insurance companies have the ability to incentivise sustainable practices and promote responsible behaviours of their customers.” 

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top