NRI Annual Review 2023 - Flipbook - Page 18
A BRAVE NEW FUTURE FOR
NUCLEAR – LLOYD’S CONTRIBUTION
Written contribution from Bruce Carnegie-Brown, Chairman of Lloyd’s
make responsible decisions about how we
finance and insure the world’s transition
to a low-carbon economy. The things we
advocate, insure and invest in decide how
businesses and individuals themselves
lend, spend and save.
We do not take that responsibility lightly –
and it is why Lloyd’s is acting on a number of
issues to build climate resilience across global
markets. The actions we are taking are:
1.
A global pandemic, geopolitical
tensions, rising cybercrime –
there is no end to the list of highprofile risks to confront in 2022.
But on that list, the shift in
our planet’s climate must be
recognised as the defining
challenge of our time.
Climate change presents both an existential
and an immediate risk to the societies,
economies and ecosystems we are a part of.
It demands action on a scale and speed never
seen before, mobilising all parts of our society
to meet timeframes beyond our natural
curve of development.
The greatest failure would be to fail to act;
the second would be to act in isolation.
Lloyd’s and the global insurance industry
know we have a unique responsibility to
businesses, policymakers and customers to
18
Starting with ourselves – We are
targeting a net zero position for our
own operations; a net zero investment
strategy for Lloyd’s £3 billion Central
Fund; and a net zero underwriting
position for the Lloyd’s market by
2050, through the Net Zero Insurance
Alliance. At the same time, we are
working with market participants
towards a sustainable underwriting
approach which supports our
customers as they decarbonise and
transition.
2. Convening the industry – Through
our leadership of the Insurance Task
Force of HRH The Prince of Wales’s
Sustainable Markets Initiative, we are
bringing together expertise, ideas
and networks to create industry-wide
plans that support the transition to a
low-carbon economy.
3. Helping society build resilience –
Developing products and insurance
solutions to help countries and
businesses of all sizes respond to
natural disasters and climate-related
threats.
