VIDEO: Faster action from insurers is critical to addressing climate risks – COP26 President Alok Sharma

Alok Sharma is a British politician serving as President for COP26 and a Minister of State at the Cabinet Office since 2021. In his opening remarks at the 2022 Business of Resilience conference in London, Mr Sharma highlighted the critical role that insurers have to play in addressing the impacts of climate change.

“Now we must deliver urgently on what was promised at COP26 and build societies and economies more resilient to climate change… Insurance will be absolutely crucial to this agenda. Communities must be able to protect themselves from financial risk.

We have seen progress – excellent public private partnerships being established to increase access to insurance… London is home to the Insurance Development Forum, a coalition of public and private partners including Zurich, AIG and Aon. Its Global Risk Modelling Alliance is helping vulnerable countries to understand their risk and extend insurance cover.”

Watch the video here.