Alliance of CEO’s call on G7 & world leaders to scale up climate risk transfer

Alliance of CEO’s call on G7 & world leaders to scale up climate risk transfer

With the G7 conference in Cornwall, UK starting tomorrow and the COP26 only five months away, CEOs of major worldwide corporations are getting in touch with world leaders to scale up environment risk transfer as part of the financial response to climate change.The Alliance of CEO Climate Leaders is a global neighborhood of Chief Executive Officers convened by the World Economic Forum and the group contacts the G7 and all other world leaders to accelerate actions in relation to climate change.
The CEOs call for “vibrant action now for a simply transition.”
Describing, “With the ongoing challenge of the COVID pandemic, it is easy to forget that climate modification is an immediate and growing threat to economies, individuals, and environments– with our existing trajectory leading us to possibly irreversible outcomes.
” To avoid the worst effects of environment change we require to limit warming to 1.5 ° C, which will require nearly cutting in half greenhouse gas emissions by 2030 and reaching net-zero by 2050. This extreme departure from todays emissions development trajectory needs bold action throughout public and private sectors five months before COP26 in November.”
Businesses are already stepping up, the CEOs discuss, however they desire world leaders to step-up and “to provide on our shared environment ambitions and enable a net-zero world– and in addition to interact with the economic sector for bolder actions on shared ambitions within a clearer and more ambitious policy framework.”
Calling for “transformative policy change” the Alliance of CEO Climate Leaders highlight the need for financial investment in environment adaptation, which also calls for environment risk transfer efforts to be increased.
World leaders should, “produce resistant cities and infrastructure by scaling natural disaster defences and run the risk of transfer solutions, for example by advancing climate-resilient, sustainable food production and protecting water supply,” thee Alliance of CEOs discusses.
Importantly, they include that “climate- associated risk transfer mechanisms” need to be improved, as part of increasing green finance approaches.
Plainly the worldwide insurance, reinsurance and insurance-linked securities (ILS) markets are going to be at the heart of offering new climate threat transfer solutions to support international adaptation efforts and the calls for higher use of danger transfer and for threat transfer to be embedded in the global reaction to climate change are progressively loud.
As we reported earlier today, United Nations (UN) Secretary General António Guterres said that the world requires more catastrophe-triggered funding and much better instruments to support the delivery of environment funding, to improve disaster strength, fund adaptation steps and financing environment danger.
Now these 79 international CEOs of significant business (including Swiss Re CEO Christian Mumenthaler, Allianz CEO Oliver Bäte, AXA CEO Thomas Buberl and Zurich CEO Mario Greco) around the world are calling on world leaders to broaden the usage and speed up of climate risk transfer.
This year could be essential in the insurance coverage, reinsurance and ILS market revealing how it can enable much better supported and financed environment adjustment, through the embedding of environment threat transfer within the worlds transition strategies.
Embedding insurance-like mechanisms within climate funding, preparation, development and adjustment can help to much better protect economies and lives while the world races to its net-zero targets and works to increase its climate durability.

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!