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Climate change and the insurance sector: its role in adaptation and mitigation

The insurance industry has been slow to address climate change. With a focus on adaptation, a few reinsurers have carried out awareness-raising and research, while the UK insurance industry has been active in terms of risk reduction. The UNEP Insurance Industry Initiative seeks to discover best practice globally and inform the international policy-making process. Its research reveals that public-private collaboration is the most effective way to engage the insurance industry in reducing vulnerability. The same principle can help to avert the further progression of climate change through more enlightened investment policies.

Dlugolecki, A. and M. Keykhah, 2003: Climate change and the insurance sector: its role in adaptation and mitigation. Journal of Corporate Environmental Strategy and Practice (GMI), 39.

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