How can the insurance industry make cities more sustainable?
The chief executive of AXA famously remarked last year that a 4 degree world is “uninsurable”.
And cities have a major role to play in stopping the rise in global temperatues by transitioning to a low-carbon economy. 60 percent of the global population are estimated to live in urban areas by 2030.
Cities are also bearing the brunt and attending costs of climate change; 2017 alone witnessed extreme weather events from Bangladesh to the Caribbean, with damages running into the hundreds of billions.
With that in mind, the UN has turned its attention to how the insurance industry can protect cities and actively support sustainable development.
The new Insurance Industry Development Goals for Cities, launched today in Montreal, are the result of extensive consultation between UN Environment, ICLEI and major insurers.