The Geneva Association has published a statement ahead of the Paris COP21 climate change talks scheduled for world leaders in December.
The CEO-level re/insurance think-tank said 68 chief executives had pledged their support on climate resilience and adaptation industry efforts.
World leaders will begin their meetings in Paris at the end of this month to try to forge a global commitment to curb climate risk and combat the threat of global warming, following mixed fortunes at previous attempts in Kyoto (2009) and Toronto (2014).
The Geneva Association said its industry backers collectively “represent US$1.2trn of premium volume and manage total assets of more than US$11 trn”.
The “vital societal and economic function” of global re/insurance was highlighted in the statement, “by signalling the price of risks to raise awareness” of climate risk.
“At this crucial moment in time, through this statement we stress that the (re)insurance industry is more committed than ever to playing an instrumental role in being part of the solution to manage and reduce risks associated with our climate, around the world,” said the think-tank.