Analysis

Prince Charles warns insurance industry to speed up progress around climate change

By Jon Guy 2021-02-22T08:04:00

climate change (2)

The Prince of Wales emphasised that there has to be ‘a move to net zero ambitions on the underwriting side, so that insurance companies can take action and drive change with their clients across the economy’

The latest report on the industry’s ClimateWise Principles has hailed the significant progress insurers and brokers have made to disclose their preparedness and response to climate change. However, the news is tempered by calls for the industry to do far more.

HRH Charles, Prince of Wales, who launched the initiative 14 years ago, said progress remains too slow and the industry needs to turn its attention from the assets they hold to the risks they broker and underwrite.

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