Insurance industry signs on to ClimateWise

Sixteen insurers and reinsurers are leading a major initiative called ClimateWise, which encourages more climate-friendly customer behaviour.

Leading global insurers, reinsurers, brokers and Lloyd’s of London developed the principles behind ClimateWise to promote climate change.

The principles are intended to enable companies and organizations throughout the world to add climate change into their operations. They were developed after nine months of intensive activity by a working group consisting of the Association of British Insurers, His Royal Highness’s Business and the Environment Programme and Business in the Community.

Key areas include encouraging more 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,” said Peter Hubbard, chief executive of AXA Insurance and chairman of the industry working group. “This is this spirit of co-operation that has led us to agree the ClimateWise principles and to take the lead in raising this issue.”

Insurance and reinsurance companies included 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 Re

* RBSI

* Royal & SunAlliance

* Swiss Re

* Zurich