Lloyd’s to collaborate on world’s first space sustainability standards

• Lloyd’s to work with the Lloyd’s Market Association (LMA), Government and industry experts to produce world-first standards for sustainable space exploration.
• Photography exhibition by Max Alexander and guest speakers will showcase the scale of challenges undertaken by pioneering companies hoping to benefit from the standards.
• Attendees include astronaut Sir Tim Peake and UK Space Agency Deputy CEO Ian Annett.

Lloyd’s, the world’s leading marketplace for commercial, corporate and specialty risk solutions, in partnership with the LMA, has today announced it will collaborate with the UK Government and leading industry experts on the development of the Earth & Space Sustainability Initiative.

Having been at the forefront of insuring space exploration since its inception – including the very first commercial satellite in 1965 – Lloyd’s is once again convening its knowledge and expertise to shape cutting-edge conversations around extra-terrestrial risk.

Space has become an increasingly important anchor to the global economy, providing the physical infrastructure for the global communication networks that underpin our deeply interconnected world. However, this vital system of satellites is under threat from the growing problem of space debris.

There are estimated to be more than 100million pieces of space debris large enough to cause real damage to the people and technology operating in the Earth’s orbit. As an example, a single stray bolt can travel at over 4 miles per second and would rip through a satellite with the force of a hand grenade.

To highlight the challenge of space debris, Lloyd’s is launching ‘Our Fragile Space’, led by renowned science communicator and space photographer Max Alexander. The display will exhibit the reality and growing threat space debris poses to our environment and way of life – while showcasing the people and initiatives leading the way in combatting the issue.