airmic – Renewables on the rise

By Warren Diogo, Head of London Market Renewable Energy at Sompo International

Climate change is grabbing headlines once again. An unprecedented heatwave in Canada, forecasts of the third worst wildfire season in western US since 1960, Prince Charles launching his Sustainable Markets Initiative insurance task force, and 128 of the world’s largest investors – controlling US$43 trillion in assets – now committed to a net zero emissions target. The list goes on. Unsurprisingly, against this backdrop, focus on – and investment in – renewable energy continues to intensify. These developments are having an impact on industry and the insurance market.