Insurance & pensions

Climate change is compunding the challenges faced by African insurance companies who must innovate to close the protection gap, says Cecilia Schultz of financial consultants Krutham.

G20 countries are making some progress on greening regulatory frameworks but wholesale reform of the global financial system is still needed, say Siti Kholifatul Rizkiah and Maud Abdelli of WWF.

Insurance markets are already straining under the impacts of climate change, heralding greater problems for financial stability, says disaster and climate economist Ilan Noy.

Increased capital requirements for insurers are needed to reflect the higher risks of fossil fuel assets and maintain financial stability, says Jérôme Crugnola-Humbert, former sustainable finance policy expert at EIOPA.

The Federal Reserve stands apart from its peers in downplaying climate risk, even as some parts of the US become uninsurable, says Alex Martin of Americans for Financial Reform.