Strengthened Commitment to Combat Climate Change
The collective insight and ingenuity of the insurance industry, working with the broader global community, will be key to assessing and responding to climate change and its implications.
A report from the Intergovernmental Panel on Climate Change issued in February 2022 revealed that the changing climate is harming the planet faster than we can adapt. Humanity is facing perhaps the largest and most important health hazard in its history.
The life and health insurance industry has a significant role to play in mitigating the damage, starting with establishing a culture and awareness that will ultimately guide customers and applicants toward reducing their carbon footprints. In 2021, RGA took an important step in leading by example, pledging to make our operations net zero in greenhouse gas emissions by the end of 2026.
RGA, a member of The Geneva Association’s Task Force on Climate Change Risk Assessment for the Insurance Industry, is committed to environmental sustainability. As a member, we are responsible for sharing our research approach, which relies on the latest scientific findings and actuarial analysis covering multiple risk categories. Our network of experts monitors emerging experience, evaluates scenarios, and identifies factors that may influence the economic and physical health of populations decades into the future.
RGA’s most recent reports about climate change and its implications on the insurance industry can be read here and here. The issues discussed in these reports impact everything from product design, pricing, in-force management, and underwriting new business, to operating models, risk management practices, and investment assets.
The collective insight and ingenuity of the insurance industry, working with the broader global community, will be key to assessing and responding to climate change and its implications. As a global life and health reinsurer, RGA understands we have a unique and important role to play in shaping the conversation around this urgent issue. We are in the process of producing our first annual TCFD (Task Force on Climate-related Financial Disclosures) report in 2022 and are working to advance sustainability initiatives across the company. Together with our industry partners, we are embracing the opportunity and the responsibility we have to protect the health of the planet we share.