Institute contributes to Lloyd's report on insurance for a low carbon economy
The Grantham Research Institute has contributed to a new report on the transition to a low-carbon economy, published by Lloyd’s of London in collaboration with Vivid Economics. Dr Swenja Surminski and Dr Joana Setzer from GRI worked with Lloyd’s and the wider insurance market on this assessment of the impact of transition and liability risks on general insurance, seeking principally to understand sectoral trends up to 2030, which will inform risks and opportunities over the next 3-5 years. The report shows several actions that insurers can take to support their clients in a low-carbon transition. There are challenges ahead but overall the transition to a low-carbon economy offers significant opportunities for insurers to help manage new risks and support investment in expanding low-carbon sectors.
The sectoral findings for the shipping sector have been summarized in this GRI/LSE publication: Oliver Walker, Justine Schafer and Swenja Surminski (2019): Decarbonisation Risks in Shipping: Implications for Insurance Underwriters, in: LSE Global Policy Lab: From “Green” to “Blue Finance” Integrating the Ocean into the Global Climate Finance Architecture.