Today is the UN’s International Day for Disaster Risk Reduction. Given the significant impact climate change is already having, and the fact that this impact is only expected to grow in the future, Nicolas Jeanmart, head of personal and general insurance at Insurance Europe, commented:
“Addressing the challenges posed by climate change is vital for disaster risk reduction, as climate change results in more frequent and severe natural disasters. And, insurers have a key role to play. This includes not just the financial protection we offer, but also incentivising clients to reduce their risk exposures and assisting authorities in modelling the risks faced by their communities. Insurers also increasingly contribute by reducing their own carbon footprints.
“However, policymakers must also increase their efforts. This means, in particular, keeping as close as possible to the Paris agreement on the reduction of greenhouse gas emissions, achieved during COP 21. At the same time, significant policymaker action is required to adapt our societies to an already changing climate, for example via better land use planning and adequate building codes. Such action on adaptation is needed urgently at all levels: local, national, European and global.”