Insurance companies sign up to tackle climate change

Sixteen insurance companies have signed up to be a part of a major initiative to tackle climate change and encourage more climate-friendly customer behaviour. Leading global insurers, reinsurers, brokers and Lloyds of London developed the principles behind ClimateWise to promote climate change. The principles, developed after nine months of intensive activity by a Working Group consisting of the Association of British Insurers and His Royal Highness’s Business and the Environment Programme and Business in theCommunity, are set out to enable companies and organizations throughout the world to add climate change into their operations. Key areas covered include encouraging greater climate-friendly behaviour among customers, investment strategy and risk analysis, according to a release. The responsibility for addressing global warming rests with us all and will require co-operation and agreement amongst individuals, businesses and countries. It is this spirit of co-operation that has led us to agree the ClimateWise principles and to take the lead in raising this issue, Peter Hubbard, Chief Executive of AXA Insurance and Chairman of the Industry Working Group that drew up the principles, said in a release. ClimateWise demonstrates the importance this industry attaches to this challenge. The principles set a framework for us taking up this exciting challenge of changing behaviour, raising awareness and encouraging new ways of working.Companies involved in the launch of ClimateWise are: AIG Allianz AXA Aviva Benfield Co-operative Insurance F & C Friends Provident HBOS Lloyd’s of London Lloyds TSB Munich ReRBSI Royal & SunAlliance Swiss Re Zurich