Climate Change Summit 2024 - Strengthening the Industry's Climate Capabilities

• With half of global GDP dependent on nature, the business case for action to combat the crisis of nature decline is clear. Nature is critical to our members and their customers – from the economic value it provides to our pension investments, the practical role it plays in absorbing some of the risks posed by flooding and heatwaves and the benefits it offers to human health. We will discuss practical tools and share up to date insight to help the sector understand their own impact, manage risks and prioritise actions
• Climate change is increasing the prevalence of extreme weather events and other physical risks. This poses challenges to the insurance sector. During the Summit we will identify the interactions and key levers that could decrease the negative and improve the positive impact of insurance underwriting on climate and biodiversity and look at how insurers can reduce their insurance-associated emissions.
• Our sector wants to play a significant role in driving the transition to Net Zero, both as investors and as providers of essential insurance and long-term savings services. We also need to ensure that it is a ‘Just Transition’ that protects the whole of society from the impact of rising temperatures, while also managing the cost of transition in a way that ensures essential insurance products remain affordable and that savings provide for society’s retirement needs.
• The UK insurance and long-term savings industry has the potential to supply nearly half off the total investment required to hit our net zero targets. This is being boosted by regulatory changes into the assets that firms can hold against portfolio risk, which is expected to unlock a further £100bn over the next decade. The ABI created the Investment Delivery Forum last year to ensure the industry is ready to act once this regulation is complete. Hear from those involved in the Forum about the barriers and associated solutions needed to make the most of these changes and to ensure that UK savers have pensions to be proud of.

What will delegates learn?

By the end of this webinar, delegates will be able to...

• Discuss insurers’ role in delivering a Just Transition and the challenge of providing affordable insurance and long-term returns on savings throughout the transition to Net Zero.
• Understand the starting point for considering nature-related risks and opportunities and developing a strategy for action on nature.
• Recognise the interactions and levers that affect the impact of insurance underwriting on climate change and how insurers can reduce their insurance-associated emissions. 
• Gain insight from an ABI Report that will be published on the day of the Summit on the potential for institutional investors to unlock a further £100bn over the next decade to supply nearly half off the total investment required to hit the UK's Net Zero targets.