The Paris Climate Change Agreement came into force today. In response, Michaela Koller, director general of Insurance Europe, said: “Europe’s insurers welcome the entering into force of the Paris Climate Change Agreement to limit any global rise in temperature to below two degrees above preindustrial levels. Significant steps must now be taken by policymakers to ensure that the agreement is fully implemented and adhered to.
“It is also essential that appropriate action is taken by public authorities to better protect societies against the effects of climate change that have already begun to manifest themselves. This is an area where Europe’s insurers are already heavily involved; for example, through the advice they provide to policymakers on climate change adaption projects, such as the building and maintenance of flood defences and the drafting and enforcement of building codes.
“Many insurers also engage in risk awareness initiatives, and several have developed apps to inform consumers of extreme weather events or whether their properties are under potential risk from such events.”
More information on the important roles that insurers and public authorities can play in tackling climate change can be found in this insight briefing.