Brokers lack urgency and interest in net zero transition – Ecclesiastical Insurance

Brokers are demonstrating a lack of urgency and interest in transitioning to net zero, according to Ecclesiastical Insurance.

The specialist insurer commissioned independent research agency FWD to carry out 251 interviews with insurance brokers based in the UK between January and February 2023.

The results, which were published yesterday (19 April 2023), revealed the number of brokers who said their firm had no interest in being net zero rose from 21% to 27% year-on-year.

There was also an increase in firms saying they were too small for net zero to concern them, rising from 3% to 12%.

Adrian Saunders, commercial director at Ecclesiastical, said: “These results show brokers are sleepwalking into the climate crisis, despite the urgent need for all industries to transition to net zero.

“There are some firms out there that get it and are investing in carbon reduction, but most brokers aren’t interested.”

Build confidence

Ecclesiastical said the main barrier to setting a target was that brokers do not have the resources to focus on net zero right now, with 51% of companies feeling this way.

However, the survey revealed three quarters of brokers agreed that reducing their climate impact was the right thing to do for the environment.

Two in five (41%) also said their company was more aware of climate issues than 12 months ago, while results showed a small increase in brokers measuring their carbon footprint.

Saunders added: “Our research found two in five brokers would like support to understand how they can reduce their climate impact.

”As an insurer committed to making a positive environmental impact, it’s important we help to build confidence among brokers so they can make more informed choices and expand the climate conversation to their customers.”