Daniel Perdomo joined Lloyd’s in 2022 from the Carbon Trust in London. Here he discusses the Risk Revealed series from Lloyd’s Futureset, and the opportunity he sees to connect the market with pioneering firms innovating the future of clean energy and facilitate the complex but vital conversations around green technology innovation and risk.
With Daniel Perdomo, Lloyd’s Futureset Research and Insights Lead
“In the journey to a low carbon economy, innovators will be the winners”
“After over a decade’s work on climate change issues in organisations like the United Nations and the Interamerican Development Bank in Washington and Chile, I realised the importance of insurance in helping to rewire the financial system in order to shift the flows of capital to the most essential projects for energy transition. That’s the opportunity I see at Lloyd’s.
Enabling the world’s transition to a low-carbon economy needs close collaboration across sectors. To drive action at the scale needed – to limit global temperature to 1.5 degrees – the financial sector plays a critical role.
De-risking clean energy projects is talked about in terms of government and philanthropic grants, but that’s not going to be enough to unlock capital at the speed needed to prevent global temperatures rising. The de-risking of solutions, expertise and capital available within the insurance industry are all critical to accelerating innovation and unlocking capital flows which the real economy needs to grasp. Lloyd’s plays a catalytic role in this respect, and I’m immensely proud of it.
Risk Revealed is the latest event series from Lloyd’s Futureset, created to increase awareness and education, develop strategic partnerships, and to facilitate conversations around clean technology, innovation, and risk management. The series is helping to bring the insurance sector closer to organisations, projects and partnerships at the forefront of clean energy innovation. Recent events have focused on exploring solutions in hydrogen; carbon capture and storage; offshore wind; and mass timber as a low carbon building material.
We want to help the market to be actively involved in solving the protection gaps across clean energy solutions, seizing opportunities to be the insurer of those liabilities. Lloyd’s syndication model is well set up to share those risks and enable clean energy innovation. In the past, the market has been guilty of reacting nervously to technologies and risks it hasn’t fully understood, we want to change that and put ourselves and the market on the front foot. It’s all part of accelerating the learning curve and increasing the capacity and skills of market participants to understand how the energy system and risk landscapes are evolving, to better embrace incoming change and opportunity.
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