Launched by Prince Charles in 2007, ClimateWise is global collaboration of leading underwriters and brokers focused on reducing the risks of climate change. For a complete list of member insurance companies, click here.
In its most recent annual review – “ClimateWise Principles: Third Independent Review 2010” – ClimateWise found that a growing number insurance companies are focusing on investments in businesses that are working to lessen their impact on climate change. For a copy of the annual review, click here.
Of the more than 40 insurance companies that make up ClimateWise, 73% have complied with a set of principles and sub-principles which incorporate climate change in making investments, according to independent research done by PricewaterhouseCoopers for the annual review. This is up from a compliance rate of 61% last year and 43% in 2008.
The results seem to indicate an increasing effort on the part of insurers to address climate change. The review didn't name which insurers aren't complying, nor did it measure how incorporating climate change initiatives affected investment returns. The annual review, however, was optimistic about the positive long-term impacts of a more conscious effort made by insurance companies to help the global environment.