Contributing to the global debate on climate change: a retrospective report on the 37th General Assembly in Zurich
This paper addresses the current climate change debate from the insurance industry perceptive by sharing its accumulated knowledge on managing both tangible and intangible risks. It (i) recalls some international frameworks and statements such as the 'Hyogo Framework for Action 2005-2015' to share the insurance viewpoint on the climate-related initiatives, then presents: (ii) the industry's ongoing efforts to advance climate science and risk assessment; (iii) the industry's role in climate change mitigation and adaptation, including disaster risk reduction as the first line of defence against climate change; (iv) the industry's effort to promote adaptation in developing economies for the most vulnerable countries to soften the negative consequences of climate-related disasters through risk management and transfer; (v) the progress in insurance product development; (vi) a new wave of climate discussions; and (vii) a way to act as a hub for the international network of experts.