A BRAVE NEW FUTURE FORNUCLEAR – LLOYD’S CONTRIBUTIONWritten contribution from Bruce Carnegie-Brown, Chairman of Lloyd’smake responsible decisions about how wefinance and insure the world’s transitionto a low-carbon economy. The things weadvocate, insure and invest in decide howbusinesses and individuals themselveslend, spend and save.We do not take that responsibility lightly –and it is why Lloyd’s is acting on a number ofissues to build climate resilience across globalmarkets. The actions we are taking are:1.A global pandemic, geopoliticaltensions, rising cybercrime –there is no end to the list of highprofile risks to confront in 2022.But on that list, the shift inour planet’s climate must berecognised as the definingchallenge of our time.Climate change presents both an existentialand an immediate risk to the societies,economies and ecosystems we are a part of.It demands action on a scale and speed neverseen before, mobilising all parts of our societyto meet timeframes beyond our naturalcurve 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 industryknow we have a unique responsibility tobusinesses, policymakers and customers to18Starting with ourselves – We aretargeting a net zero position for ourown operations; a net zero investmentstrategy for Lloyd’s £3 billion CentralFund; and a net zero underwritingposition for the Lloyd’s market by2050, through the Net Zero InsuranceAlliance. At the same time, we areworking with market participantstowards a sustainable underwritingapproach which supports ourcustomers as they decarbonise andtransition.2. Convening the industry – Throughour leadership of the Insurance TaskForce of HRH The Prince of Wales’sSustainable Markets Initiative, we arebringing together expertise, ideasand networks to create industry-wideplans that support the transition to alow-carbon economy.3. Helping society build resilience –Developing products and insurancesolutions to help countries andbusinesses of all sizes respond tonatural disasters and climate-relatedthreats.
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