Lloyd's was a founding signatory of the Climatewise principles for the insurance industry in September 2007. The initiative encourages insurance companies worldwide to respond to the challenge of climate change as quickly and effectively as possible.
Forty insurance companies are members, including fifteen managing agents in the Lloyd's market. Climatewise's six core principles form the framework of Lloyd's approach to responding to climate change:
- Support Risk Analysis
- Inform Public Policy Making
- Support Climate Awareness
- Incorporate Climate Change into our Investment Strategies
- Reduce our Environmental Impact
- Report and Be Accountable
At Lloyd’s we’re always striving to do more to better the environment. Lloyd’s Environmental Working Group meets regularly to discuss environmental improvements. Successful initiatives in place include:
- A comprehensive recycling system at Lime Street and Chatham
- An annual environmental action plan including energy saving initiatives, waste reduction
- Annual public reporting of Corporation carbon footprint
- Carbon offsetting is purchased to mitigate the environmental impact of Corporation employees’ flights
In 2007 Lloyd’s became one of the founding members of the ClimateWise Initiative.