CarbonPool’s Post

For those that did not have a chance to see the webinar on permanence, buffer pools and insurance, here the recap and links. Suffice to say that a mechanism involving regulated in-kind insurance is the only way to give 99.5%+ certainty on permanence, precisely what we are working on at CarbonPool. Only financial sector regulators ensure that 99.5% certainty - everything else has no oversight and no regulation!

Do you have ideas about how insurance can support decarbonization and a reduction in global emissions? Or ways to leverage the rebuilding process to support resilience and sustainability? or ways insurance bolster the deployment of clean tech? EDF and the Salata Institute at Harvard are hosting small group discussions during Climate Week. Register your interest in attending before the end of the week! #climateweek #insurance #climatechange #resilience https://lnkd.in/ezEdZtYK

The Geneva Association recently launched a two-part research series on climate tech and insurance to explore the role re/insurers play in the commercialization of climate technologies. The second report, "Bringing Climate Tech to Market: The powerful role of insurance," examines the changes that need to be made to traditional approaches to developing and financing emerging technologies for climate tech and focuses on the importance of insurability and the development of affordable insurance for market readiness. Here's what stood out to InnSure: ▪️Available and affordable insurance solutions will be essential for getting new climate technologies market-ready, securing financing, and managing project liabilities. ▪️Industry-level efforts are needed to help change the risk profile of climate technologies. Such actions may include building extreme-weather-resilient equipment and more resilient infrastructure systems, targeted workforce training, and developing public policy and regulatory requirements that mitigate environmental and safety risks. ▪️Data transparency and knowledge sharing between project developers and re/insurers is critical for assessing the maximum possible loss. ▪️Early involvement of re/insurers in climate tech projects will facilitate the development of risk profiles for specific technologies, help to identify insurance needs, help with risk management, and enhance insurability. We'd also like to highlight the report's novel "Insurability Readiness Framework," which allows climate tech risks to be viewed through an insurance lens. The framework can help facilitate more informed conversations among climate tech stakeholders and re/insurers for framing risks, identifying data needs, exploring insurability conditions, and considering risk management strategies. Check out the full report here: https://lnkd.in/dXzvX9VZ #insurance #insuranceindustry #insuranceforclimate #climate #climatetechnology #climatetech #insurancesolutions

Are you headed to NYC for Climate Week in Sept? Are you interested in the ways insurance can drive decarbonization and the adoption of clean technologies? EDF and the Salata Institute at Harvard University are diving into these topics through an interactive workshop on Sept. 24th. Register your Interest in participating today! #climateweek #nycclimateweek #insurance #climatechange https://lnkd.in/ezEdZtYK with a version of the following text

It stems from the speech delivered by Petra Hielkema (she / her) at the Insurance Conference in Vienna on 16 April 2024 that the role of (re)insurers in combating climate change is crucial and multifaceted. On one hand, (re)insurers have to deploy capacity to mitigate risks associated with natural disasters, which are expected to increase in frequency, intensity and severity due to climate change. This will be achieved through risk assessment and management, as well as the development of innovative insurance products that promote prevention and adaptation to climate change. On the other hand, (re)insurers act as significant institutional investors, which gives them the opportunity to influence the economy towards a greener transition by investing in sustainable technologies and companies that adopt environmentally friendly practices. Furthermore, (re)insurers can play an educational role, raising awareness about climate change and the importance of climate resilience among consumers and businesses. By doing so, they can encourage a shift in behaviour that contributes to a more sustainable and prepared society to face the challenges of climate change. In summary, (re)insurers not only provide a financial cushion after climate events but can also be agents of change in promoting a more resilient and sustainable economy. It is essential that they continue to innovate and collaborate with governments, businesses, and civil society to close the protection gap and move towards a safer and greener future. I am sure this speech helped to convey the message effectively!

Implementing sustainability is both a necessity and a once-in-a-generation opportunity for insurers. The Sustainable Insurance Roadmap and Report takes a deep dive into ways insurers can seize the sustainability opportunity, and is a great resource for any Insurer looking to develop a more impactful sustainability strategy. It builds on 18 months of research by Antony Ireland and the Better Insurance Network, a network of insurance professionals committed to amplifying the insurance industry’s role in the transition to a more sustainable, low carbon economy. I was delighted to contribute to the report along with my Oliver Wyman colleagues Robert Bailey and Kerry Adams-Strump. Learn insight into best practices among market-leading companies, including seven actions insurers can take to make a real-world impact today. Learn more > #ReinventingInsurance #Sustainability #ClimateRisk

🌱 Breaking News! A recent report by Financial Times reveals that a staggering $10 trillion worth of insurance cover is necessary to achieve net zero emissions. This eye-opening report emphasizes the critical role of the insurance industry in driving sustainable practices. The need for substantial coverage highlights the scale of efforts required to combat climate change effectively. Let's join forces to support this pivotal initiative and pave the way for a greener future. #NetZero #SustainableInsurance #ClimateAction 🌍 https://ift.tt/XBtrQzh

"The insurance industry is at a crossroads. With weather-related risk worsening due to climate change and insurers unsure about how to adapt — resulting in limited coverage or carriers pulling out of states altogether — now is the time for innovation." New #blogpost from InnSure posted on Building Financial Resilience #Sustainability #Climatechange, #Renewableenergy, #Sustainabledevelopment, #Biodiversity, #Ecofriendly, #Cleantech, #Energyefficiency #insurtech #insuranceinnovation #severeweather #climateresilience #financialplanning #insuranceagency #communityempowerment https://lnkd.in/ecpx7hFF

"The insurance industry is at a crossroads. With weather-related risk worsening due to climate change and insurers unsure about how to adapt — resulting in limited coverage or carriers pulling out of states altogether — now is the time for innovation." New #blogpost from InnSure posted on Building Financial Resilience #Sustainability, #Recycling, #Climatechange, #Renewableenergy, #Sustainabledevelopment, #Biodiversity, #Ecofriendly, #Cleantech, #Energyefficiency #insurtech #insuranceinnovation #severeweather #climateresilience #financialplanning #insuranceagency #communityempowerment https://lnkd.in/ecpx7hFF

The Net Zero Insurance Alliance, created to reduce the insurance sector’s GHG emissions, will be disbanded and replaced with the Forum for Insurance transition to Net Zero (“FIT”). This new group has loosened membership requirements – with members no longer needing to set an annual report on emissions targets. Instead, members will be expected to adopt four sustainable insurance principles focusing on processes to measure emissions, set optional targets, develop transition plans, engage with different sectors, and address climate solution barriers. This pivot occurred after Republican-run states threatened legal action leading to half the group’s members leaving. FIT will launch with more than 45 member organizations and will be backed by a team of antitrust experts.  https://lnkd.in/gj-zumrs