Back from Glasgow: what does COP26 mean for the insurance sector?

In this IIL webinar, Jon Williams shares his experience from attending the key sessions in COP26 on the role of the insurance industry and more broadly financial services.

COP26 is hosted in Glasgow and attended by global leaders and their policy teams. Expectations are high that this event will see the alignment for action last seen at the Paris COP. All eyes are looking for pledges for action to the next critical decade and beyond, to put in place what the Economist calls ‘the rewiring of the global economy’ needed to avert climate catastrophe.

The hope is that national governments at COP26 raise their ambition on emission cuts and commit to halving emissions by 2030 and reaching Net Zero (NZ) by 2050, to put the world on a 1.5-degree trajectory. This means that action must happen now, and significant steps must be taken by 2030.

In this session, Jon talks about the commitments and policy changes announced at COP26 and their relevance to the insurance sector.

This talk covers how the announcements inform the activities insurers need to plan to respond to the transition opportunities and risks from climate change. Where companies are already putting readiness measures in place, for example, those in response to regulatory requirements, COP26 will further inform how these activities can be used as a platform to embed actions to prepare the business for decarbonisation and net-zero journey of the UK and global economies. The session also covers the most recent Task Force on Climate-Related Financial Disclosures guidance (TCFD), both in terms of new portfolio alignment metrics, transition plans and progress made to date by insurers on TCFD aligned disclosures.

Learning objectives:

• Key takeaways from the COP26
• Insurance sector-specific considerations from the COP26 policy announcements
• Guidance to firms on how to mobilise their organisations in response to new policies

You will be sent a confirmation email shortly after booking. If you have not received this within one hour, please contact Patricia Pedraza (020 7397 3911).

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