Highlights of the Insurance 2030 Roundtable co-hosted by UNEP and Swiss Re
02 Jun 2015
A multi-stakeholder discussion on sustainability issues such as access to insurance, disaster resilience, and climate change adaptation and mitigation.
On 11-12 May 2015, the United Nations Environment Programme (UNEP) and Swiss Re, bringing together the UNEP FI Principles for Sustainable Insurance (PSI) and the UNEP Inquiry into the Design of Sustainable Financial System (UNEP Inquiry), co-hosted a Roundtable on “Insurance 2030: Policies and partnerships for sustainable development” at the Swiss Re Centre for Global Dialogue. Around 60 leaders and executives from insurance companies and regulatory bodies, the UN, governments, think tanks and civil society discussed industry priorities, challenges and pathways. The Roundtable drew on existing industry initiatives on sustainability issues such as access to insurance, disaster resilience, and climate change adaptation and mitigation. It also marked the culmination of the global consultation led by the PSI and UNEP Inquiry over the past year on insurance policy and regulatory frameworks.
Opening the Roundtable, UNEP Executive Director Achim Steiner highlighted the strategic opportunity for convergence between industry initiatives and policy frameworks at the national and international levels. Participants debated interlocking issues such as natural disasters, access to insurance, climate change and the low-carbon transition, socio-economic disruptions and long-term investment. Industry commitments were deemed important to exercise leadership, catalyse action and deliver solutions. However, enabling insurance policy and regulatory frameworks are vital to bring these commitments to scale, while multi-stakeholder partnerships are key to driving greater impact. In the closing session, UN Framework Convention on Climate Change (UNFCCC) Executive Secretary Christiana Figueres initiated discussions for the insurance industry to look into the implications of climate change scenarios on system-wide insurability.