Tokio Marine Group has announced that it achieved carbon neutrality across its overall business activities in FY23 for the 11th eleventh consecutive year.

Zurich has set an interim target to reduce the intensity of insurance-associated emissions in its large corporate customer portfolio by 20 percent between 2022 and 2030.

The increased cost of electric vehicle (EV) insurance claims could pose a challenge to insurer profits in European countries where EVs have a market penetration of 5 percent or more, according to Berenberg.

The Lloyd’s Market Association (LMA) and the International Underwriting Association (IUA) have partnered to launch a new data standard for underwriters when collecting sustainability data from clients.

(Re)insurers have been recommended to disclose their exposure to sectors with material nature-related risks and to sensitive locations, stated either as a percentage of GWP or as total sums insured, in the final guidance issued by the Task Force on Nature-Related Financial Disclosures (TNFD).

Broker Aon has developed a bespoke insurance product to cover the risk of reservoir integrity in carbon capture and storage projects.

CFC has expanded its carbon insurance solutions suite to offer carbon cancellation insurance against the risk that a carbon credit is cancelled or invalidated.

Gallagher Specialty has introduced a carbon insurance solutions service to help clients mitigate risks associated with decarbonisation initiatives.

More than one-third of brokers have developed a plan to achieve net-zero emissions or are already implementing one, according to new research by Aviva, with those yet to do so citing cost as the most significant barrier.

With several carbon insurance products announced in recent months, distinct product offerings are beginning to take shape.

Members of the Poseidon Principles for Marine Insurance (PPMI) have unanimously agreed to align with the International Maritime Organization (IMO)’s revised target to achieve net-zero by 2050.

Carbon credit insurer Kita has unveiled a new partnership in which the Lloyd’s Lab alumnus will provide independent active risk management for the International Carbon Registry’s (ICR) buffer.

Climate activists have disrupted the British Insurance Brokers' Association’s (Biba) annual conference in Manchester, urging the sector to stop (re)insuring oil and gas projects such as the East African Crude Oil Pipeline (EACOP).

Aon has developed an insurance product for international transport and storage companies engaged in carbon capture and storage (CCS).

Oka has entered an agreement with carbon solutions platform Clima in a deal which will extend the carbon credit insurance start-up’s offering in Australia.