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Climate change and energy security - global challenges and implications

Future risk 3

Publication date:

12 June 2012

Last updated:

25 June 2018

Author(s):

Policy and Public Affairs

This year, the Chartered Insurance Institute celebrates its hundredth anniversary as a chartered professional body.  To mark this achievement, we are publishing a series of reports exploring some of the risks and opportunities that might face us in the decades to come.

Centenary future risk series 3

In early February, we published the first in the series - Future risk: learning from history. It set the scene by reflecting on some of the most dynamic trends of the past.

In April, we published the second report, investigating future socioeconomic challenges.

Our third and latest report explores possible environmental futures and their implications for the insurance sector and society more broadly. The report presents a number of specially commissioned essays on future environmental risks from world leading experts. Authors include:

  • Dr Fatih Birol - Chief Economist, International Energy Agency;
  • Professor Sir John Beddington - Government's Chief Scientific Adviser;
  • Dr Swenja Surminski - Senior Research Fellow, Grantham Research Institute;
  • Professor Lord Julian Hunt and Dr Yulia Timoshkina - University College London (UCL);
  • Professor David Crichton - Hon. Visiting Professor (UCL) and Chartered Insurance Practitioner  

The essays represent compellingly argued visions of the future and can provide the basis for the construction of some simple scenarios.

The report argues that the insurance sector can play a key role in determining which future the world faces. Historically, the sector has helped to raise awareness of climate change-related hazards through the pricing of risk. To maximise its effectiveness in the years ahead, the sector must continue to do the things it has done well in the past, and it must embed itself deeper into the multitude of channels through which it can influence approaches to climate change adaptation. Engagement with policymakers, town planners and other professionals like architects and civil engineers will be critical to success.

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This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.

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