保险公司可以在塑造净零未来方面发挥关键作用

Executive summarySector deep-divesRecommendations ForewordThe insurance industry is uniquely placed to support the transition to a sustainable future. For decades,our global insurance industry has been supporting individuals, businesses and governments inunderstanding, mitigating and managing the impact of increasingly severe climate-exacerbateddisasters. Additionally, we play an important role in supporting investment in and development ofrenewable energy and climate innovation, initiatives key to realising the transition pathway and net zerogoals.This report, developed by Marsh McLennan in partnership with the Sustainable Markets InitiativeInsurance Task Force (SMI ITF), seeks to provide greater clarity as to the key risks and challengesbusinesses across multiple sectors face in the transition and crucially, how insurers can support them.We hope that by identifying areas for partnership and collaboration, the ITF can drive and deliverinnovative insurance solutions to address these challenges.Our research, carried out by interviewing C-Suite and Heads of Risk Management from various realeconomy firms, identifies seven specific cross-sector opportunities where the insurance industry couldbe a key enabler to catalyse the transition in hard-to-abate sectors.Alongside the research, we have presented a set of practical recommendations for the insuranceindustry to take forward, highlighting the opportunities to further support customers. We need to ensurethe collective management of the risks of transition, alongside the growth opportunities spurred on bynew economic activities, as we seek to help businesses accelerate towards a more resilient andsustainable future.John NealCEO of Lloyd’s and Chair of the Sustainable Markets Initiative Insurance Task ForceNick StuderPresident and CEO of Oliver Wyman Group, Climate and Sustainability sponsor on theMarsh McLennan Executive Committee The role of the insurance industry in catalysing the transition in hard-to-abate sectorsThis report explores seven key sectors and technologies to understand their transition trajectory and identify the key challenges and risks they will face. This provides an overallpicture of where the insurance industry can provide the necessary risk solutions to catalyse the transition.Executive summarySeven key sectors and technologiesEnergyFusionMiningAviationShippingSpaceAgribusiness1.The top three challenging areas identified by real economyfirms in their journey towards net zero arereputation,financial planning, and profitability. The research showsthat, across all aspects of products and services, theinsurance industry can do more to make our customers feelagreater level of support. We suggest this begins withenhanced engagement.2.There areopportunitiesfor the insurance industry toinnovate, evolve existing products to insure new risks,and expand capacity for existing risks. Innovativeinsurance solutions, like new pooling solutionsfor pioneering technologies and capital relief solutionsdesigned to boost financial investment, could drive globalprogress and accelerate industry transitions towards a moreresilient and sustainable future.3.The Insurance Task Force can draw upon thecross-sectorconvening powerof the Sustainable MarketsInitiative.Cross-taskforce collaborationcould allow theinsurance industry to engage with policymakers and gainaccess to key data that will enable our industry to bettersupport the transition.Summary of key risks and recommendations Executive summaryStrategic risksImmature/slow progress across value chain (e.g., roll out of supporting infrastructure, cooperation, upstream engagement in transition)Technological obsolescence leading to strandedassets/early retirementAvailability of adequate talent poolUncertainty in market size and demandIndustry innovation degrading competitive advantageDelays to siting and permit processesIP theft degrading competitive advantageFinancial risksLack of appropriate offtake agreements(volume, length, price, FX)Cost volatility (e.g., input costs, overheads, FX)Insufficient confidence in investment returns hindering financial decisions (e.g., company revenues,time scales, FX, interest rates)Revenue volatility(e.g., price and volume fluctuations)Insufficient confidence in viability of novel technologiesCreditworthiness of counterparties (e.g.,offtakers)OperatingrisksWeather impactsDamage from novel technology malfunctionPerformance and integration of technologiesCyber and terrorist attacksInput/feedstock supply volatility (e.g., intermittency)Supply chain disruptionsContractors defaulting or failing to deliverLiability andreputationalrisksMandated restoration or remediationLegal fees or regulatory fines (incl. environmental and pollution, workers’ compensation, physical damage, greenwashing)Reputational damages (e.g., environmental concerns, malpractice, third party misconduct)GeopoliticalrisksNationalisation or expropriation of assetsBusiness disruptions or delays driven by political instab