A recent report by the Economist Intelligence Unit (EIU) estimates that companies are directly responsible for at least one-third and possibly as much as two-thirds of the world’s greenhouse gas (GHG) emissions.

The silver lining of this gaseous cloud is that the insurance industry is uniquely poised to mitigate the risks and adapt to climate change.

The years spent monitoring, assessing, and paying claims against catastrophes—the rise of which are directly linked to greenhouse gases—has enabled the industry to take a much needed, and well-positioned, aggregate view of this global problem.

It is essential we forge this trail. By adopting plans and strategies that take our impact on the environment into consideration, we have the opportunity to reduce risks, keep this industry profitable, while helping the planet.

(Adapted from Romana King’s editorial in the May 2009 edition of Canadian Insurance Magazine).

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