ClimateWise

Climate change is a key issue for everyone, and recent natural disasters show the very real cost that climate change could cause insurers in the future. Lloyd’s recognises the effects of climate change and the direct impact on the business community and we are in regular dialogue with insurers, businesses and policy makers to address the challenges of climate change, both for our industry and for the wider world.

The insurance sector enables business and individuals to manage risk including long-term threats such as climate change. The long-term stability of our economy hinges on an appropriate response to this threat. Lloyd’s continues to support action to tackle climate change and has played a leading role in ClimateWise – a collaborative endeavour by insurers to drive action on climate change.

ClimateWise

The ClimateWise principles have been developed following consultation between The Prince of Wales’s Business & Sustainability Programme, Lloyd’s, the ABI, and other insurance market participants. Lloyd's is an active member of the group.

Over 30 insurance companies are members, including nine managing agents in the Lloyd's market. ClimateWise's six core principles form the framework of Lloyd's approach to responding to climate change.

The ClimateWise principles:

  1. Lead in risk analysis
  2. Inform public policymaking
  3. Support climate awareness
  4. Investment strategies
  5. Reduce environmental impact
  6. Report and be accountable
  • ClimateWise 2016-2017 reportLloyd's is committed to the ClimateWise principles, and has taken actions to achieve progress against the principles; a brief description of each action is listed on the following pages, and in our 2016-2017 ClimateWise report:

    2016-2017 ClimateWise report

    Past reporting:

    2015-2016 ClimateWise report.

    2014-2015 ClimateWise report

  • There are nine managing agents that operate within the Lloyd’s market that have signed up to the ClimateWise principles.

    Climate change is recognised as an issue at Board level at Lloyd’s and each managing agent has a ClimateWise sponsor at Board or senior level:

    Company Designated Board Member   Title 
    Lloyd's  John Parry  Chief Financial Officer
    ArgoGlobal  Philip Grant  Director, Argo Managing Agency
    Beazley  Clive Washbourn  Head of Marine, Chair of Beazley's Responsible Business Committee
    Chubb  Andrew Kendrick  SVP, Chubb and President, Europe
    Hiscox  Michael Schenstrom  Director of Group and Finance Operations
    MS Amlin  James Illingworth  Chief Risk Officer
    Navigators  Carl Bach III  Managing Director, Navigators Underwriting Agency Limited
    QBE  Joe Gordon  Chief Operations Officer
    Renaissance Re  Ian Branagan  SVP Group Chief Risk Officer
    Tokio Marine Kiln  Charles Franks  Chief Executive Officer