Some insurers are part of a coalition of more than 80 UK companies that have signed an open letter calling on Prime Minister Boris Johnson to demonstrate “strong domestic leadership” in addressing climate change.
A letter coordinated by the Business Group Alliance for Net Zero (BGA) was published 40 days before the United Nations Climate Change Conference (COP26) in Glasgow. In the letter, companies expressed their support for climate change and emphasized the need for the UK Government to develop a coherent and integrated Treasury support plan to achieve net zero carbon emissions.
The insurance companies that signed the letter include Allianz, Aon UK, Brit Insurance, Flood Re, Marsh, MS Amlin, Sedgwick International UK and Tokio Marine Kiln.
The signatories urged the Prime Minister to oversee the government to align its economic and fiscal policies with its decarbonization strategy. This will not only build confidence in companies to act at speed and scale, but will also send the world a message that Britain is taking a coordinated leadership position on climate change, the BGA said.
“The countdown to COP26 gives you a limited window to show such leadership,” the letter said. “We need to seize important opportunities like the next Net Zero strategy. To achieve results for the economy as a whole, this strategy requires strong support from the Ministry of Finance through Net Zero and a comprehensive spending plan. It will also need to coordinate the policies and actions of other governments across transportation, housing, the wider building environment, the natural environment and the international aid budget. “