Transitioning to a low carbon economy - (Re)insuring climate change and potential business risks and opportunities

Jonathan Gale and Andrew Macfarlane
Additional contact information
Jonathan Gale: AXA XL Reinsurance, https://axaxl.com/reinsurance
Andrew Macfarlane: AXA XL, https://axaxl.com/reinsurance

Journal of Financial Transformation, 2023, vol. 57, 118-123

Abstract: (Re)insuring the risks related to a changing climate is a challenge and an opportunity - new risk are being created and existing risks are being amplified. As businesses seek to understand, and play an active role in mitigating, the effects of climate change they often focus on the physical risks associated with the changing environment. However, a key part of the business risk can come from the substantive change in consumer behaviour, technological advances, and the change in operations needed of almost every company globally - the 'transition risk'. As the world works to decouple the link between the continuous need for economic growth and increasing emissions, we consider the pathway to manage that change.

Keywords: AXA XL; Reinsurance; Insurance; Climate risk; transition; risk; (re)insurance (search for similar items in EconPapers)
JEL-codes: Q54 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jofitr:1698

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