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Prince Charles launches Climate Change Insurance Working Group



Britain's Prince Charles has launched an insurance group aimed at tackling climate change, chaired by Lloyd & # 39; s London and made up of heavyweights, including CEO of American International Group Inc., Aon PLC, Marsh & McLennan Cos . Inc. and Munich Re.

The insurance group Sustainable Markets Initiative aims to promote the world's progress towards a resilient, zero-zero economy, Lloyd & # 39 ;s said Thursday in a statement announcing the initiative.

Its letter of intent includes a commitment to provide climate-positive financing and risk management to help companies and individuals accelerate the transition to a sustainable future.

As part of this initiative, the working group will launch at least two new insurance coverages for priority industries, such as nuclear energy, hydrogen and offshore wind, to accelerate their growth.

The Working Party will also work with governments to establish a public-private disaster recovery framework for knowledge, response and recovery to protect developing countries from the growing economic and societal effects of climate change, according to the statement. to direct capital towards investments that drive climate-positive results.

"The insurance industry is exceptionally well placed to understand the effects of climate change and the damage it can cause us all if we do not take action now," Prince Charles said in the statement. Catalog

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