Climate change: from words to action

Identified as an emerging risk by leading insurers and reinsurers over 20 years ago, climate change is now recognised as an issue of global importance. Indeed, the Intergovernmental Panel on Climate Change has reported that the effects of climate change can now be observed across all continents and oceans. The continued rise in average global temperatures is expected to lead to more frequent and severe natural catastrophes around the world.

Measures must now be taken to help minimise future climate change-related losses, and to ensure affordable and sustainable insurance cover in the years to come.

To see examples of how insurers are tackling climate change, click on a word below:

Climate Change Word CloudData-sharing Data-sharing Adaptation Adaptation Platform Mitigation Mitigation Green Partnership Platform Information NatCat Tools Cover Impact Mapping Commitment NatCat Greenhouse Gas Certificate Guidelines Flood Municipalities Strategy Academia Transparency Prevention Expertise Data-sharing Impact Projects Damage Investment Zoning Apps Tools Sustainability Loss Insurability Consumer Awareness Apps Prevention Expertise Tools Data-sharing Certificate Assessment Zoning Information Loss Consumer Prevention Cover NatCat Tools Flexibility Data-sharing Risk-Analysis Municipalities Apps Damage Strategy Impact Projects Investment Impact Sustainability Data-Sharing Green Academia Apps Platform NatCat Flood Green Commitment Flexibility Cover Greenhouse Gas Expertise Renewable Solutions Investment Mapping Tools Partnership Insurability Awareness Solutions Transparency Renewable Loss Apps Cover Zoning Green Impact Municipalities Projects Tools Mapping Investment Damage Zoning Platform Guidelines Impact Apps Prevention Loss

 

Target Two Degrees

In the run-up to the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP21) in Paris in December 2015, Insurance Europe ran its public "target two degrees" campaign. Insurance Europe and over 2 000 signatories to the campaign pledged their support for world leaders to agree to take action to limit the effects of climate change to below 2°C above pre-industrial temperatures.

The COP21 agreement, which was adopted by 195 countries, is a step in the right direction. The EU has now officially ratified the agreement, so the landmark deal legally entered into force on 4 November 2016.

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