By Kieran Cooke, From the Climate News Network.
Insurance is all about assessing risk, so you might expect companies in the sector to be intimately involved with one of the most potent risks facing the world – the possibility of catastrophic climate change.
Yet a survey by Ceres, a US not-for-profit group that lobbies for more environmental awareness in the business sector, has found a startling lack of action by most insurers on the issue.
In total, more than 300 insurers, a large proportion of them based in the US, were canvassed and then given various ratings associated with their response to climate change – ranging from “leading” to “minimal”.
“Most of the companies responding to the survey reported a profound lack of preparedness in addressing climate-related risks and opportunities,” the Ceres report says. “Only nine insurers, or three per cent of the 330 companies overall, earned a ‘leading’ rating.”