COP21: insurers welcome deal

Responding to the announcement of a climate deal in Paris, Matt Cullen, Head of Strategy at the Association of British Insurers (ABI), said:

“Ahead of the talks in Paris, leading insurance CEOs and executives had urged world leaders to aim for a temperature rise of no more than 2 degrees. To have a deal emerging which commits to this, but also sets an ambition of just 1.5 degrees, is a great achievement for international cooperation. This historic deal now needs to be ratified, and to result in meaningful action around the world.

“The increased frequency and severity of major weather events means insurers are at the forefront of witnessing the real impacts of climate change. Storm Desmond is a stark reminder of this, and insurers’ role to help people be resilient to climate impacts. Insurers also have a critical role to play in helping to support the transition to a low carbon world through sustainable investments and through insuring renewable energy and energy efficient homes. Insurers are already pursuing policies with an aim of reducing climate impact and they will do much more, alongside governments and other industries.”