[Following on from my previous post] Regardless of your beliefs on the cause of climate change, there can be no doubt that it is happening, and global emissions are clearly a contributing factor to the severity of this.
Whilst insurance in and of itself cannot directly combat this, the role it plays in responding to it's effects is essential. However, it should be noted that certain industry leaders (e.g. Swiss Re) are investing heavily in to broad-reaching research which will help general understanding of both cause and effect - undoubtedly this benefits (re)insurers, but the knowledge can be used by all.
I will admit that it wasn't until attending Swiss Re's 150 year celebrations that I realised the extent of the impact of agriculture on our climate. The role of Insurance is clearly not just to provide a safety net, but also to raise awareness of threats and how they can be managed.
Ban Ki-Moon, the Secretary-General of the United Nations, and President Obama of the United States, both made pledges to step up the role of insurance in protecting the most vulnerable against the impacts of climate change yesterday. Speaking at the Paris COP21 climate talks yesterday, these two world leaders demonstrated the vital role that insurance, reinsurance and risk transfer has to play in helping to make the world more climate secure. With weather and climate related disaster losses thought to be rising in many regions of the world, and with an expectation that this rise is exacerbated by and will continue as a warmer and more volatile climate contributes to increasing economic losses, the need to put in place insurance, reinsurance and risk capacity to protect the most vulnerable is becoming increasingly urgent.