LMG launches report to spotlight how insurance supports net zero projects

LMG launches report to spotlight how insurance supports net zero projects

Today, the London Market Group launched its report into the role that insurance plays in helping to unlock the potential of net zero projects. Aimed at parliamentarians and other influencers, it aims to showcase the role of the London Market in unlocking, promoting and facilitating the transition to net zero.

Sean McGovern, chair of the LMG and CEO of AXA XL, UK & Lloyd’s, commented:

“The transition to a net zero world will affect our clients’ business models, product needs and risk characteristics. While people often talk about green finance as the main driver of these projects, insurance is a crucial but often overlooked partner.

“In this report, we break down the challenges faced by investors, developers, and other stakeholders across the lifecycle of any such green project to illustrate where and how insurance can be used to alleviate them – from the conception of an idea, securing financing, construction, operations and, where necessary dismantling or re-purposing.

“Insurance isn’t merely an occasional player; it is a dedicated partner. These endeavours require consistent and multi-faceted support and, with its vast expertise in managing risks across diverse sectors, the insurance industry is well-positioned to foster confidence in green projects throughout their lifespan”.

The report was written by Oxbow Partners, drawing on interviews with a broad representative group within the London Market – including brokers, syndicates and company market insurers – to gain their insights, perspectives, and case studies of how insurance has supported projects across each stage of the lifecycle. Whether through specialised versions of traditional insurance products or innovative solutions to tackle new complex risks, the London Market has shown it can use its scale, expertise, and history of innovation to help unlock the vision for a sustainable future.

Download report
Contacts

Latest news

The LMG

The London Market grows contribution to UK economy to £50bn

Read More Separator
The LMG

Sarah Hughes appointed to board of London Market Group

Read More Separator

2023 Report Card

Read More Separator
The LMG

Two new board members appointed by London Market Group

Read More Separator
Assembling and submitting core data
Digital Market

Cross-market committee established to manage the evolution of the Core Data Record

Read More Separator
Adoption of MRC V3
Digital Market

First group of brokers announce adoption of MRC v3

Read More Separator
30 London Market firms join first ever apprentice drive
Talent

30 London Market firms join first ever apprentice drive

Read More Separator
All news