At COP28, the insurance industry reconfirmed its commitment to addressing climate change and overcoming climate protection gaps. As we head into 2024 and insurers prepare to step up their adaptation and mitigation efforts to support a sustainable transition to net zero, here are three of WTW's key takeaways on the UN climate summit from our colleagues who attended and thoughts on what this means next for the industry’s role in managing climate risk. You can also find out what we got up to during COP28 here.
Concerted efforts are required to reduce and eliminate the nearly $7 trillion of public and private finance each year that supports activities that directly harm nature to fully move towards a nature-positive future.
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WTW at COP28 Climate Conference
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Companies will likely be looking beyond this year’s summit towards ever greater support in understanding what climate risk means for their own organisations and the actions necessary to mitigate and transfer that risk.
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The surge in demand for capital to finance decarbonization solutions means that the role of global private finance is becoming increasingly critical.
