Global News - Insurers' efforts to mitigate climate change see progress - ClimateWise
Source: Asia Insurance Review | Jan 2016
The insurance industry is continuing to take the necessary steps to incorporate the risks posed by climate change across their business activities, an annual review of insurance industry’s global network ClimateWise said.
The 2015 independent annual review of the six ClimateWise Principles adopted by members of the industry leadership group concludes that positive progress continues to be made in response to climate change, with average scores rising across almost all of the principles against 2014.
The average member scores rise from 51% in 2014 to 56% in 2015. This marked steady progress, said the watchdog, especially after the reporting requirements were tightened in 2013. The release of this year’s report had come on the eve of the crucial COP21 climate negotiations. It also marked the end of a year that had seen growing concern by investors, insurance regulators and central banks, on the impact climate change may have on the insurance industry.