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Insurance Industry Support of Carbon Removal Needed in Drive to Net Zero
Ditching investments in fossil fuel businesses—and denying them insurance—aren’t the only ways for the insurance industry to participate in the drive to net zero greenhouse gas emissions, according to representatives of global insurers and reinsurers.
Executive Summary
"Carbon removal will need to evolve into a multitrillion-dollar industry akin to the value of the oil and gas industry today if we are to hit the climate targets set out by the 2015 Paris Agreement." The words of Christoph Nabholz, Chief Research Officer at Swiss Re Institute, are a call to action for insurers and reinsurers to support the emerging carbon removal industry.Executive Summary“Carbon removal will need to evolve into a multitrillion-dollar industry akin to the value of the oil and gas industry today if we are to hit the climate targets set out by the 2015 Paris Agreement.” The words of Christoph Nabholz, Chief Research Officer at Swiss Re Institute, are a call to action for insurers and reinsurers to support the emerging carbon removal industry.
Even those companies that are continuing to insure the oil and gas industry can push the global transition to net zero forward by helping facilitate the growth of essential carbon removal technologies, they say.
