Escalating climate shocks are deepening an insurance crisis that threatens both social resilience and financial stability-shifting unaffordable risks onto people while exposing the limits of an insurance system under intensifying strain according to the 'Insure Our Future' campaign.
A new report explores seven key sectors and technologies to understand their transition trajectory to net zero and identify the main challenges and risks they will face. The new report, developed by Marsh McLennan in partnership with the Sustainable Markets Initiative Insurance Task Force (SMI ITF) says the insurance industry has an important role to play in shaping the path to net zero.
The Financial Regulatory Authority (FRA) is helping to develop the carbon certification market, according to Dr Mohamed Farid, chairman of the regulatory agency.
Financial institutions should proactively incorporate nature in their approach to financing, says a white paper titled "Financing Our Natural Capital".
Climate change induced shocks could result in at least 6% annual economic losses in one third of Asia -Pacific countries according to a new report by the UN Economic and Social Commission for Asia and the Pacific (ESCAP).
Cordinated action is urgently needed against the rising threats posed by extreme weather and natural catastrophes, says Zurich Insurance Group (Zurich).
Ten (10) fossil fuel companies caused more than $14tn of climate damage from 1991 to 2020, according to a study by a team at Dartmouth College, a private Ivy League research university.
The Financial Regulatory Authority (FRA) is seeking to launch insurance products, to support carbon certification and sustainable agriculture, according to its chairman, Dr Mohamed Farid. Work is currently underway with the Federation of Egyptian Insurance Companies (FEIC) to study ways to launch a carbon credit insurance policy.
These are the updates on insurance regulation across China this week.
Qatar Central Bank (QCB) has launched the Sustainable Finance Framework, in line with the Third Financial Sector Strategic Plan and the Environmental, Social and Corporate Governance (ESG) and Sustainability Strategy for the Financial Sector.