The world’s climate is changing and having significant social and economic impacts. The insurance sector enables business and individuals to manage risk including long-term threats such as climate change. And the long-term stability of our economy hinges on an appropriate response to this threat.
The ClimateWise principles provide a framework for insurance companies worldwide to set out how they will build climate change into their business operations. The principles have been developed following consultation between The Prince of Wales’s Business & the Environment Programme, Lloyd’s, the ABI, and other insurance market participants.
The following will be adhered to by those companies that sign up to these principles:
1. Lead in risk analysis
2. Inform public policy making
3. Support climate awareness amongst our customers
4. Incorporate climate change into our investment strategies
5. Reduce the environmental impact of our business
6. Report and be accountable
