"Almost 200 countries have agreed to the Glasgow Climate Pact at this year's COP26 climate summit – and, of course, the insurance industry is one of the industries committed to addressing climate change.

During the conference, 190 countries agreed to the Glasgow Climate Pact at COP26 to “phase down” coal, deemed the biggest industrial source of greenhouse gas emissions, and develop stronger climate plans in 2022.”

(Insurance Business UK - November 2021)

“Since insurance is entwined in every level of economic activity, our industry will be at the forefront of that response. And, more specifically, insurance brokers will be pivotal in helping the world achieve its net zero ambitions by 2050.

We (LIIBA) work with clients from the point where they begin to assess the risks faced by their business. More and more these risks will be climate related – and already insurance brokers lead the field in the ability to model that threat. We will then work with clients on ways to best mitigate these risks. That will involve building resilience and sustainability into operations and, only once that has been deployed as a solution, looking to insure the remaining risks – through policies that themselves – in negotiation between broker and underwriter – will need to become more climate aware."

(Insurance Business UK - September 2021)