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Transitioning to a low carbon economy - (Re)insuring climate change and potential business risks and opportunities

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Abstract

(Re)insuring the risks related to a changing climate is a challenge and an opportunity - new risk are being created and existing risks are being amplified. As businesses seek to understand, and play an active role in mitigating, the effects of climate change they often focus on the physical risks associated with the changing environment. However, a key part of the business risk can come from the substantive change in consumer behaviour, technological advances, and the change in operations needed of almost every company globally - the 'transition risk'. As the world works to decouple the link between the continuous need for economic growth and increasing emissions, we consider the pathway to manage that change.

Suggested Citation

  • Gale, Jonathan & Macfarlane, Andrew, 2023. "Transitioning to a low carbon economy - (Re)insuring climate change and potential business risks and opportunities," Journal of Financial Transformation, Capco Institute, vol. 57, pages 118-123.
    • Handle: RePEc:ris:jofitr:1698
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    More about this item

    Keywords

    AXA XL; Reinsurance; Insurance; Climate risk; transition; risk; (re)insurance;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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