The projects launched by the Insurance Development Forum (IDF) over the course of the COP27 meeting in Sharm El-Sheikh demonstrate the ability of the industry to influence systemic change through cross-sector collaboration, according to chairman Michel Liès.
COP27 was billed as the Implementation COP, the climate conference where we finally move from talk to action.
A coalition of three global risk pools signed a Memorandum of Understanding (MoU) at the COP27 meeting last week to formalise the creation of a framework for collaboration across advocacy, product development and capacity building.
California’s insurance commissioner Ricardo Lara has unveiled a “Sustainable Insurance Roadmap” that he says will mark a strategic shift in the way the state’s insurance market works to address climate-related challenges.
The industry-backed Global Risk Modelling Alliance (GRMA) has been selected as a key resource for the G7’s Global Shield initiative, with the alliance also securing an additional €10mn in funding from the German government.