It would appear that the insurance industry, one of the major investors in the fossil fuel industry may be turning towards more environmentally friendly sources of energy. This is due to analysts' concern over increasing claims being paid on climate change related disasters.
A major sea change may be on the way in the global insurance industry's investment policies.
During the second week of COP 6, Mr.Andrew Dlugolecki, a leading expert on insurance, elaborated on this theme at a Press briefing, during the Climate Change Conference.
During the second week of COP 6, Mr.Andrew Dlugolecki, a leading expert on insurance, elaborated on this theme at a Press briefing, during the Climate Change Conference.
The previous week, he had addressed a meeting on Contraction and Convergence, in Frankfurt, chaired by the United Nations Environmental Program (UNEP), for this purpose
Contraction and Convergence is the principle, whereby those nations producing greenhouse gases, should reduce their own emissions, while non-polluting nations are allowed to increase theirs, until a sustainable level is reached, on a nearly equal basis.
Mr. Dlugolecki, until recently, Director of General Insurance Development at CGNU, one of the world's six largest
Contraction and Convergence is the principle, whereby those nations producing greenhouse gases, should reduce their own emissions, while non-polluting nations are allowed to increase theirs, until a sustainable level is reached, on a nearly equal basis.
Mr. Dlugolecki, until recently, Director of General Insurance Development at CGNU, one of the world's six largest